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    TURKEY FLAT STEEL: Domestic HRC fairly stable despite slow demand

    شناسه : 52667 17 مرداد 1400 - 9:30
    Turkey's domestic hot-rolled coil prices were largely stable in the week to Friday August 6 despite limited trading activity, sources told Fastmarkets.
    TURKEY FLAT STEEL: Domestic HRC fairly stable despite slow demand
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    Turkey’s domestic hot-rolled coil prices were largely stable in the week to Friday August 6 despite limited trading activity, sources told Fastmarkets.

    Hot-rolled coil

    Fastmarkets’ weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $1,010-1,050 per tonne on Friday, widening downward by $10 from $1,020-1,050 per tonne on July 30.
    Turkish HRC producers were offering material at $1,020-1,080 per tonne ex-works for late October-November production.

    Achievable prices have been estimated at $1,010 per tonne ex-works.
    One source also said that the mills rejected a bid at $1,000 per tonne ex-works.
    Demand for the material was said limited and market participants weren’t expecting it to recover in the short term.
    Some competitive import offers have also led buyers to believe that the Turkish mills might accept lower prices for coil.

    Fastmarkets’ weekly price assessment for steel HRC, import, cfr main port Turkey was $940-960 per tonne on August 6, down by $8-10 from $948-950 per tonne a week earlier.
    Material offers originating from Ukraine were heard at $945-950 per tonne cfr.
    Transactions for Russian HRC were heard at $940-950 per tonne cfr, while official offers were put at $950-970 per tonne cfr.

    A supplier from India settled deals with buyers in Turkey at $960 per tonne cfr. After this, the producer was offering HRC at $950-960 per tonne cfr. Indian mills were reportedly looking for alternative outlet markets due to lower demand in Asia caused by rising Covid-19 cases in the region, market sources said.
    Export markets for Turkish HRC, in the meantime, were fairly inactive, market sources said. Europe, one of the key outlets for Turkish coil, has shown little interest in imports due to a seasonal slowdown.

    Fastmarkets’ weekly price assessment for steel HRC, export, fob main port Turkey was $1,000-1,030 per tonne on August 6, down by $10-30 per tonne from $1,030-1,050 per tonne one week earlier.
    The assessment was based on achievable prices estimated by market participants and the lower end of official offers reported at $1,000-1,060 per tonne fob.

    Cold-rolled coil

    Domestic prices for CRC, in the meantime, increased following China’s decision to cancel more value-added tax rebates for steel exports, including CRC and hot-dipped galvanized coil, beginning August 1.
    Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Turkey was $1,260-1,275 per tonne on Friday, up by $15-20 per tonne from $1,240-1,260 per tonne a week earlier.

    Official CRC offers were heard at $1,275-1,300 per tonne ex-works. The assessment, however, was based on the latest achievable prices heard in the market and the lower end of offers. This is due to a lack of buying activity in the market.
    Some sources also believe that mills’ attempts to use the removal of China’s CRC export rebates to achieve domestic price increases in Turkey will not be successful due to a lack of demand.

    Fastmarkets’ weekly price assessment for steel CRC import, cfr main port Turkey was $1,065-1,140 per tonne on August 6, down by $30-70 per tonne from $1,135-1,170 per tonne one week earlier.
    The assessment was based on offers from Russia heard at $1,065 per tonne cfr and offers from India reported at $1,140 per tonne cfr.

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