The Turkish flats market continues to be characterized by an uptrend with the new import prices announced for Turkey in June. In particular, after the increases announced in the CIS region, Turkish integrated steelmaker Erdemir also imposed a price hike. The price rises announced for June are as follows:
Ukrainian steelmaker Ilyich production HRC is being offered to Turkey at the level of $1,200/mt CFR Turkey for late July-August shipments.
The HRC of another Ukrainian steelmaker Zaporizhstal is being offered to Turkey at $1,200/mt CFR Turkey while its CRC is being offered at $1,260/mt CFR Turkey, both for late August shipment. These offer prices indicate a rise of $120/mt for HR products and an increase of $110/mt for CR products.
Although no official announcement has been made by the company, it is heard from the market that Russian steelmaker MMK production HRC is being offered to Turkey at $1,250/mt CFR Turkey and while its CRC is being offered at $1,300/mt CFR Turkey, for late August shipments. A price rise of $120/mt is seen in both the HR and CR products of this producer compared to last month.
Ex-Russian steelmaker Severstal HRC is being offered to Turkey at $1,245/mt CFR Turkey and while its CRC is being offered at $1,395/mt CFR Turkey, for late September shipments. According to market reports, the Russian steelmaker may impose another price hike in June.
In addition to the CIS region, ex-Eastern Europe offers are also being heard. Bulgarian steelmaker Kremikovtzi production HRC is being offered to Turkey at €725-735/mt CIF FO Turkey for July shipment.
Ex-Romanian steelmaker ArcelorMittal Galati HRC is being offered at $1,225/mt CFR Turkey while this producer's CRC is at $1,300/mt CFR Turkey, for July-August shipment.
After the price hikes in the foreign markets, Turkish steelmaker Erdemir also announced a price increase. According to the price list issued by the company, the mill's prices for HR products increased by $100/mt, whereas its CR products rose by $120/mt, compared to May levels. Thus, the mill's new base prices have reached $1,360/mt for HR and $1,420/mt for CR.
Following these increases in June, the uptrend may continue next month as well. In particular, the uptrend signals being issued from Europe may be influential in the new prices to be announced for July.