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May, 26th 2017

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MAY 14
11:05

Turkish coil prices stabilise, import offers slip

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Turkish hot- and cold-rolled coil prices remained flat on-week last week, while import prices have slipped a little amid sluggish demand, market sources tell Kallanish.

Local mills continue offering June-rolling material at prices of $490-505/tonne ex-works for HRC and $600-610/t ex-works for CRC. Bookings were suggested within the offer price ranges.

Activity in the Turkish coil market has remained weak last week. Buyers are anticipating a further decline in domestic prices and thus delaying purchases, according to market participants.

CIS mills have meanwhile reduced by few dollars on-week their coil offer prices to Turkey, pressed by dull demand and price competition from China, sources inform.

Offers for HRC were suggested at $465-475/t cfr Turkey and those for CRC at $535-545/t cfr Turkey, for June delivery. Bid price levels were heard at some $10/t lower.

The interviewed sources expect coil prices in the Turkish market to remain on the decline in the coming weeks. Local mills may attempt to open July-rolling sales at flat prices but will be forced to make reductions by weak demand and decline trend in export markets, led by China, a trader comments.