TURKEY FLAT STEEL: HRC prices fall, demand stays weak

Demand is unlikely to improve in the coming weeks because of weak steel and raw material prices, Fastmarkets was told.

HRC exports
Fastmarkets’ weekly price assessment for steel HRC, export, fob main port Turkey, was $425-435 per tonne on September 27, down from $435-440 per tonne fob on September 20. 

Turkish HRC was on offer at $425-440 per tonne fob, but no major deals were heard.

Domestic prices
Fastmarkets’ weekly price assessment for steel HRC, domestic, exw Turkey, was $440-50 per tonne on Friday, down from $450-455 per tonne. 

“Buyers are now receiving orders placed in June at prices over $500 per tonne ex-works,so they have already made losses” one Turkish source said.

“Why should they book more product when prices are still falling,” he added.

Turkish mills have been offering HRC at $440-450 per tonne ex-works, down from $450-455 per tonne ex-works.

Fastmarkets’ weekly price assessment for steel CRC, domestic, exw Turkey, was $540-550 per tonne on September 27, unchanged since September 20.

Turkish mills were offering CRC at $540-560 per tonne ex-works but buying was scarce.

Import prices
CIS-origin HRC was on offer at $440-445 per tonne cfr, but no major deals were heard.

Fastmarkets’ weekly price assessment for steel HRC, import, cfr main port Turkey, was stable at $440-445 per tonne on September 27.

Fastmarkets’ weekly price assessment for steel CRC, import, cfr main port Turkey, was $515-525 per tonne cfr on Friday, also unchanged week-on-week. 

The workable price for CIS-origin CRC was $515 per tonne cfr, according to Turkish buyers, while offers from the CIS came in at $525-530 per tonne cfr.