Coated flat steel prices in Turkey increased over the week ended Friday
May 17, with several producers holding off from concluding sales in
anticipation for higher prices in the coming weeks.
Demand in
the local market remained poor but export demand was strong because of
the United States' decision on Friday to reduce tariffs on
Turkish steel imports to 25% from
the previous 50%.
Coated coil producers stopped accepting orders and have not started
accepting new orders as of May 20 because they expect to achieve higher
prices by waiting. However, hot-rolled coil prices have not increased
significantly yet.
Fastmarkets' weekly price assessment for Turkish domestic
hot-rolled coil was $505-520
per tonne ex-works on Friday May 17, rising from $500-510 per tonne
ex-works on May 10.
Domestic
prices
Before halting sales, one producer in northern Turkey was offering 0.5mm
hot-dipped galvanized coil (HDG) at $650 per tonne ex-works, with
another offering a similar product at $660 per tonne ex-works.
Producers in southern Turkey, meanwhile, were offering HDG at $660-690
per tonne ex-works, sources told Fastmarkets.
Fastmarkets' weekly price assessment for domestic HDG in Turkey was
$650-670 per tonne ex-works on Friday, up from $645-655 per tonne
ex-works on May 10.
One steelmaker in northern Turkey was offering 0.5mm, pre-painted
galvanized iron (PPGI), or color-coated coil (9002 color code), at $745
per tonne ex-works. Another northern producer was offering the product
at $770 per tonne ex-works, sources said.
Producers based in southern Turkey were offering PPGI at $750-760 per
tonne ex-works this week.
As a
result, Fastmarkets' weekly price assessment for domestic PPGI in
Turkey widened upward to
$745-760 per tonne ex-works on May 17, from $745-755 per tonne ex-works
previously.
HDG
exports
The activity in Turkey's HDG export market was relatively mild over the
week ended May 17, but it is expected to improve soon, sources said.
Turkish producers were offering 0.50mm HDG for export at $645-660 per
tonne fob, with deals made at $645-655 per tonne ex-works to Europe.
Fastmarkets' weekly price assessment for HDG exports from Turkey was
$645-655 per tonne fob on May 17, unchanged week on week.
Source from Fastmarkets MB |
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