Cold rolled and coated steel producers in Turkey have decreased their official offers slightly over the past week in some segments and further discounts are still available, against the backdrop of the weaker hot rolled coil (HRC) market, the uncertainty in the scrap market and low demand locally and in the export markets.
Currently, Turkey’s CRC local prices are at $790-820/mt ex-works base, $10/mt down over the week, while for export the official prices are at $760-770/mt FOB from most suppliers. Some of them agree that discounts of up to $20/mt are applicable for serious buyers for both segments.
In the coated steel segment, the domestic HDG Z100 prices are now at $880-910/mt ex-works officially, but generally $20-30/mt discounts are applicable since local buyers are reluctant to make active purchases due to the upcoming elections and Ramadan. Export offers for Z100 HDG are mainly reported at $850/mt and above but the workable levels are not above $800-820/mt FOB, especially in Europe. Moreover, some buyers are pushing for $10-20/mt discounts on exports.
Turkey’s PPGI is available in the local market at $990-1,030/mt ex-works and slightly higher from some re-rollers, while for export the realistic levels are considered to be at $970-1,000/mt FOB.