Day: 26 December 2022

Turkey’s cold-rolled coil exports in the first 10 months of 2022 fell 24% year on year to 416,800 mt, hit by lower demand from its traditionally main export market of Southern Europe, the latest data from the Turkish Statistical Institute showed.

Italy remained the top buyer despite a 38% year-on-year decline to 102,500 mt, while shipments to Spain slumped 58% to 29,500 mt.

Exports to the US, however, rose 17% to 48,000 mt, while shipments to Belgium dropped 20% to 41,200 mt.

Turkey’s other CRC export markets in the 10-month period were Bulgaria (34,200 mt), Egypt (22,600 mt), Romania (20,200 mt), Greece (18,800 mt) and Canada (14,000 mt).

The revenue generated from overall CRC exports in the period declined 20% year on year to $439 million, TUIK data showed.

Turkish CRC prices exceeded $1,400/mt in mid-March although they have declined since. Platts, part of S&P Global Commodity Insights, last assessed Turkish CRC at $760/mt ex-works Dec. 16.

— Cenk Can

Domestic prices for hot-rolled coil were unchanged in Europe on Dec. 23 due to market slowdown ahead of Christmas holidays.

The outlook has been largely bullish due to anticipated demand recovery in January, reduced availability from the domestic mills due to production cuts and rise of import offers.

“Market is very quiet now,” a trader said. “But I think that both domestic and impot prices will rise in January.”

A German mill has already tested the market with higher offers this week, asking Eur740/mt ex-works Ruhr.

While tradable values have been reported at Eur650-700/mt ex-works Ruhr.

Platts assessed North European hot-rolled coil unchanged on the day at Eur680/mt ex-works Ruhr on Dec. 23.

The assessment for domestic HRC in south of Europe has also been stable day on day at Eur670/mt ex-works Italy.

Market participants reported tradable value at Eur650-670/mt ex-works Italy.

Platts is part of S&P Global Commodity Insights.

— Maria Tanatar

European steelmakers have been targeting higher prices for heavy plate in the week to Dec. 23 citing anticipated demand recovery and higher costs.

A German steelmaker has been offering plate at minimum Eur900/mt ex-works Ruhr. Market sources estimated tradable values at the same level.

Another mill from Germany, traditionally less involved in the spot market activity, has been offering the material at prices above Eur1,000/mt ex-works Ruhr.

A Northern European mill has been trading plate at Eur900/mt ex-works.

Platts assessed heavy plate in Northern Europe up Eur50/mt week on week at Eur900/mt ex-works Ruhr on Dec. 23.

Situation has been similar in Italy, where the re-rollers are more exposed to rising slab and high energy costs.

“If you want to get slab from Asia now, you can get prices of about $640-$650/mt CIF Italy,” an Italian re-roller said. “With such slab prices, you cannot sell plate below Eur800/mt ex-works, it would simply be below the production costs.”

Platts assessed import slab prices in Italy at $640/mt CIF Italy Dec. 23, up $65/mt week on week.

Offers of heavy plate from Italian mills have been heard at Eur800-850/mt ex-works Italy. Tradable values have been reported at Eur790-800/mt ex-works Italy, but the mills are expected to insist on achieving prices of Eur850/mt ex-works Italy in the start of January.

Platts assessed Italian heavy plate up Eur50/mt week on week at Eur800/mt ex-works Italy on Dec. 23.

Platts is part of S&P Global Commodity Insights.

— Maria Tanatar, Benjamin Steven