Turkey flat steel market continued to increase sharply in the week to Friday December 11, on strong demand, low stock levels and expectations that prices will rise further, sources told Fastmarkets.
Most flat steel buyers believe prices have more room to increase because of strong demand and prices in the global market.
Fastmarkets’ daily index for steel hot-rolled coil index export, fob main port China reached $647 per tonne on Friday, up $47.96 per tonne from $599.04 per tonne a week earlier.
In addition, most Chinese producers have limited quantities to offer for export due to strong local demand, traders said.
As most global steel prices tend to follow the trend of Chinese steel, Turkish market participants are expecting prices to increase further.
Production costs also continued to increase this week.
*** steel scrap
Fastmarkets’ daily index for steel scrap HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey was $392.66 per tonne on Friday, up from $352.47 per tonne a week prior.
Most end users have low stocks and were offering limited material to the market due to a shortage of flat steel, market participants told Fastmarkets.
“For the past two weeks, I have been waiting to buy the latest model dishwasher for my home, but it is not available,” one market participant said.
“It is the same for most white goods; most shops either do not have the product or are trying to sell display products,” she added.
*** Turkey flat steel , Domestic prices
Fastmarkets’ weekly price assessment for steel hot-rolled coil, domestic, exw Turkey rose to $730-750 per tonne on Friday from $690-700 per tonne a week ago.
Turkish HRC producers were offering material at $730-735 per tonne ex-works for March production at the start of the week, compared with $670-695 per tonne ex-works last week.
Deals were heard at $730-735 per tonne ex-works early in the week for in local market.
But towards the end of the week, producers started offering the product at $750 per tonne ex-works and did not accept requests for a discount.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Turkey was $875-900 per tonne on Friday, up from $850-860 per tonne last week.
Producers sold CRC at $875 per tonne ex-works at the start of the week, compared with $850-860 per tonne ex-works last week.
That price was no longer available towards the end of the week, however, and Turkish offers had risen to $900-910 per tonne ex-works.
*** Turkey flat steel , HRC exports
Fastmarkets’ weekly price assessment for steel HRC, export, fob main port Turkey increased week on week to $735-750 per tonne fob on Friday from $695-700 per tonne previously.
Turkish producers were offering the product at $750 per tonne fob towards the end of the week.
One HRC export deal of over 5,000 tonnes was heard to Spain at $735 per tonne fob for March production at the start of the week.
Turkish sources noted that demand in Turkish steel export markets is strong because of low inventory levels, but most Turkish mills have limited allocation left for March production because of strong local demand.
*** Turkey flat steel, Import prices
HRC was offered from Commonwealth of Independent States (CIS) countries at $700 per tonne cfr this week.
Chinese HRC was on offer at $670 per tonne cfr Turkey, but this is for late March production and buyers were reluctant to book because of long delivery times of around 45 days.
Fastmarkets’ weekly price assessment for steel HRC, import, cfr main port Turkey was $670-700 per tonne on Friday, an increase of $10-30 from $660-670 per tonne a week earlier.
The CRC import market was slow over the past week.China offered material at $730 per tonne cfr, but no major deals were made from the country.
No new prices were heard from CIS countries, the traditional source of imported CRC into Turkey.
CRC supply from CIS is limited because of strong demand in the local market and a shortage from MMK, one of the biggest producers in Russia.
MMK plans to revamp its reversing CR mill and increase its output of CRC and coated steel from May 2021.
As a result, Fastmarkets’ weekly price assessment of steel CRC import, cfr main port Turkey was unchanged at $710-730 per tonne on Friday.
این مطلب بدون برچسب می باشد.