Turkish Flat steel prices were unchanged in the first full week of 2021 after the festive holidays, while local producers were offering material with long lead times which buyers were hesitant to accept, sources told Fastmarkets.
Turkish Flat steel , Domestic prices ***
Market activity was slow during the week to Friday January 8 because it was the first week of 2021 and some countries were not yet back from Christmas holidays.
In addition, local producers were offering hot-rolled coil for April production and buyers were opting to wait for global markets to fully return to business before committing to material with a three-months lead time, sources said.
Cold-rolled coil producers in Turkey are offering the product for late February production earliest.
Fastmarkets’ weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was unchanged at $800-810 per tonne on January 8.
Turkish HRC producers were offering at $810-835 per tonne ex-works for April production during the week, widening upward from offers for April production at $810-820 per tonne ex-works last week.
But buyers said $835 per tonne ex-works is too high and estimated workable levels of around $810-820 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Turkey was $980-990 per tonne on January 8, also unchanged week on week.
Producers were offering CRC at $980-990 per tonne ex-works, and deals were made at these prices.
Export of Turkish Flat steel ***
Fastmarkets’ weekly price assessment for Turkish flat steel , export, fob main port Turkey was stable at $800-810 per tonne on January 8.
Turkish producers were offering the product at $810-835 per tonne fob during the week.
No major deals were heard not only because of the recent or ongoing holiday season in most export markets of Turkey, but also the recent anti-dumping decision announced by the European Commission.
The EC set provisional duties at 4.8-7.6% on HRC imports originating from Turkey, with effect from January 6.
Turkish HRC exporters told Fastmarkets this week the duties are not fair and they will appeal the duties once the final duties are announced.
Import prices ***
Fastmarkets’ weekly price assessment for steel HRC, import, cfr main port Turkey was $740-805 per tonne on January 8, widening from $750-770 per tonne on December 31.
HRC was offered from Russia at $805 per tonne cfr this week. China offered HRC at $740 per tonne cfr Turkey for April shipping, rising from the offers at $730 per tonne cfr received last week.
The offer from China was included in the assessment this week even though China is not a regular seller of HRC to Turkey because Turkish buyers told Fastmarkets they are considering imports from China while offered tonnages from CIS countries to Turkey are limited.
No HRC import deals were heard during the week.
Cold-rolled coil that was not annealed was offered to Turkey at $755-760 per tonne cfr from China this week, which normalizes to $810-820 per tonne cfr for annealed CRC.
No new prices were heard from CIS countries, but buyers saw $840 per tonne cfr is a workable price.
As a result, Fastmarkets’ weekly price assessment for steel CRC import, cfr main port Turkey was $810-840 per tonne on January 8, falling from $840-850 per tonne on December 31.
Reference: metal bulletin
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