Spot prices in the sheet/coil markets decreased today. HRC (hot rolled coil) prices in the Iskenderun region, which have been in the range of $780-820 across Turkey for a while, have declined to $730. The sector, which has a shortage of ready-made goods, said that the figures accepted in the market are in between $740-750 for the Iskenderun Region.
In the Aegean region, HRC (hot rolled coil) fell by around $20 to $30, falling to $780 in the spot market. It is heard that the producer in the region gave a price of $680 for July delivery. Some sources stated that there is variability in purchases with montane, which can be discounted up to $10.
Similar situations occurred in the Marmara Region. The base price for the spot market was between $760-780. It has been reported that a producer in the region has an August delivery price of $680.
While the trader-based galvanized sheet prices remained at $950, it was noted that the imported goods in the market had sales of $835-880. According to the research conducted by SteelRadar, it was observed that the dollar-based easing in the Turkish markets maintained its strength against the TL in some companies whose exchange rate was not based on the Central Bank.
According to the assessment made by the SteelRadar analyst on June 1, 2023, the following prices were discussed in the spot market.
Spot sheet/coil prices in the Turkish market – 01.06.2023
Aegean Region / hr,cr,gz
HRC (hot rolled coil) $770-780 (ex-warehouse)
CRC (cold rolled coil) $890-900 (ex-warehouse)
GZ (galvanized sheet) $950-960 (ex-warehouse)
Marmara Region / hr,cr,gz
HRC (hot rolled coil) $760-780 (ex-warehouse)
CRC (cold rolled coil) $880-900 (ex-warehouse)
GZ (galvanized sheet) $950 (ex-warehouse)
Iskenderun (Payas) / hr,cr,gz
HRC (hot rolled coil) $730-750 (ex-warehouse)
CRC (cold rolled coil) $880-900 (ex-warehouse)
GZ (galvanized sheet) $830-880 (ex-warehouse, imported goods at low prices)
While all this was happening in Turkey, what happened in the global markets?
NLMK lowered its HRC offers in favor of CRC (cold rolled coil). Added $550 FOB price requests from Turkish customers. However, the figure requested by NLMK was not approved and it was decided to sell additional tonnages for CRC (cold rolled coil). The $720 FOB figure for HRC gradually weakened and fell to $685 with the expected decline.
A decrease was recorded in the PMI Manufacturing Industry Index, which was announced in China the other day. The calmness of the market in the housing sector continues. In Chinese futures, the market continues to fluctuate without a clear turn. Therefore, a decline or rise that creates confidence cannot be foreseen.
In flat steel, major producers have closed offers for full July shipments. Although August demands for new shipments of HRC (hot rolled coil) have started to gather, there has been no increase in price. Foreign sources emphasized that there is a very weak demand for long products as well. Raw materials, on the other hand, showed a faster recovery in futures compared to other steel products. In short, if we evaluate May for China, the Chinese steel industry could not recover in May. The expected improvement did not occur. Expectations for June seem more moderate.
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