Turkish Flat steel prices continued to rise sharply in the week to Friday November 20, due to strong demand in the domestic and export markets because of low stock levels, sources told Fastmarkets.
*** Turkish Flat steel , Domestic prices
Fastmarkets’ weekly price assessment for steel HRC, domestic, exw Turkey was $630-640 per tonne on November 20, rising from $575-585 per tonne on November 13.
Turkish HRC producers were offering HRC at $630-650 per tonne ex-works for late February and early March production, rising from $580-595 per tonne ex-works last week.
Deals were heard at $630-640 per tonne ex-works during the week for Turkish HRC in the local market.
Offers as high as $655 per tonne ex-works were heard after the price assessments were published.
Fastmarkets’ weekly price assessment for steel CRC, domestic, exw Turkey was $740-750 per tonne on November 20, up from $720-730 per tonne on November 13.
Producers were offering material at $740-760 per tonne ex-works, up from $720-730 per tonne ex-works last week, sources said.
Offers reached $790-800 per tonne ex-works at the end of the week, Turkish sources said, after the price assessments were published.
*** Turkish Flat steel , HRC exports
Fastmarkets’ weekly price assessment for steel HRC, export, fob main port Turkey was $630-650 per tonne on November 20, rising from $565-570 per tonne on November 13.
Turkish producers were offering the product at $630-650 per tonne fob, sources told Fastmarkets.
Several export deals for Turkish HRC were heard to Europe at $640-650 per tonne fob for February production.
Turkish sources said that demand for Turkish steel exports was very strong because of low inventory levels, particularly in Europe.
Nonetheless, the European Commission (EC) announced on November 13 that imports of hot-rolled flat steel from Turkey will be subject to registration upon arrival in the European Union.
The start of registration will allow European authorities to impose definitive anti-dumping duties, if any, against imports from the date of registration.
The EC started an anti-dumping investigation into HRC originating from Turkey in mid-May this year. Provisional measures in the case, if any, will be imposed by January 2021, with definitive duties scheduled to be set by July 13.
*** Import prices
HRC was on offer in Turkey from Ukraine at $595-600 per tonne cfr during the week.
Buyers said bookings were likely to be made at around $590 per tonne cfr.
Fastmarkets’ weekly price assessment for steel HRC, import, cfr main port Turkey was $590-595 per tonne on November 20, up from $545-550 per tonne on November 13.
The Turkish CRC import market has been slow over the past week with no new prices heard.
However, Turkish buyers put the workable CRC import price at about $۶۴۰-۶۵۰ per tonne cfr, rising in line with HRC prices.
Fastmarkets’ weekly price assessment for steel cold-rolled coil import, cfr main port Turkey was $640-650 per tonne on November 20, rising from $610-620 per tonne on November 13.
Russia was heard offering HRC at $640 per tonne cfr after the price assessments were published.
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