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Mar.29.2024 1USD=7.095RMB
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Turkey Coated Flat Steel Prices Rise after US Reduces Turkish Steel Import Tax

https://en.steelhome.com [SteelHome] 2019-05-21 09:31:20

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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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