Turkey’s largest integrated long steel maker Kardemir, which opened its order book for sections with competitive prices on Aug. 5, closed it on the same day after receiving significant orders from the domestic market.
Kardemir put its new sales price for IPE-NPUs 160-550 mm sections at $805-$870/mt EXW, while prices for HEA-HEBs 120-500 mm sections were set at $850-$950/mt EXW, depending on thickness.
Turkish mills have been reducing their long steel offer prices notably in recent days to spur demand in a sluggish market.
Imported scrap prices also declined notably in this sentiment. S&P Global Platts assessed Turkish imports of premium heavy melting scrap 1/2 80:20 Aug. 4 at $464.50/mt CFR. The index has dropped sharply in recent weeks, down from a high of $501.75/mt CFR on June 29.
Some Turkish mills also adjusted their domestic scrap buying prices downward in line with lower imported scrap pricing.
Turkish long steel producers pulled down their lira-denominated 12-32 mm domestic rebar list prices by a further $15-$20/mt this week to $700-$715/mt EXW, depending on region and volume, due to low demand and ongoing declines in imported scrap prices.
Some discounts are still available for sizable tonnages.
— Cenk Can
