The prices for both hot-rolled coil and cold-rolled coil in Turkey increased over the week to Friday August 7, with market sources not expecting any price decreases any time soon, sources told Fastmarkets.
Fastmarkets’ weekly price assessment for steel HRC, domestic, exw Turkey was $500-505 per tonne on August 7, rising from $450-460 per tonne on July 31.
HRC producers were heard to be offering HRC at $500-515 per tonne ex-works for October production, sources reported.
Even though the price increases were sharp, market participants in Turkey believe there is some more room for further price hikes, with no expectations of price decreases because of high raw material prices as well as global increases for flat steel products.
*** Fastmarkets’ daily index for steel hot-rolled coil
Fastmarkets’ daily index for steel hot-rolled coil index export, fob main port China was $504.24 per tonne on August 7, rising from $485.89 per tonne on July 31.
While Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was calculated at $277.73 per tonne on August 7, rising from $272.09 per tonne on July 31.
Producers were reported to be offering cold-rolled coil (CRC) at $570-580 per tonne ex-works during the week, sources said.
Therefore, Fastmarkets’ weekly price assessment for steel CRC, domestic, exw Turkey rose to $570-575 per tonne on August 7, up from $530-535 per tonne on July 31.
*** HRC exports
Fastmarkets’ weekly price assessment for steel HRC, export, fob main port Turkey was $490-500 per tonne on August 7, rising from $430-440 per tonne on July 31.
Turkish producers were offering the product at $490-500 per tonne fob and deals were made to Europe and North Africa at $490 per tonne fob, sources that spoke to Fastmarkets said.
*** Import prices
Russia was offering HRC at $495-500 per tonne cfr Turkey, while India was reportedly offering the product at $505-510 per tonne cfr and no new price was heard from Ukraine.
Fastmarkets’ weekly price assessment for steel HRC, import, cfr main port Turkey was $495-500 per tonne on August 7, rising from $435-450 per tonne on July 31.
The CRC import market was slow without any new prices heard, but Turkish sources believe the new prices will be around $550-560 per tonne cfr for the product, which would be an increase in line with HRC import prices.
As a result, Fastmarkets’ weekly price assessment for cold-rolled coil in Turkey was $550-560 per tonne on August 7, rising from $470-490 per tonne on July 31.
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