The hot rolled coil (HRC) market has firmed up in Turkey and the increased price targets voiced at the end of last week now seem to be gaining more ground. Some better sales have been seen in the domestic market as well as for export, while the import segment remains represented basically by China.
Domestic offers are still at $650-670/mt ex-works in Turkey for January deliveries, while workable levels have inched up to $640-645/mt ex-works, versus around $620-630/mt earlier.
As regards exports, according to sources, certain amounts have also been traded, mainly to Europe. One of the mills is reported to have sold over 20,000 mt of HRC to Italy and Antwerp starting from $600-610/mt FOB in early November, and up to $625-630/mt FOB in the most recent deals. Another supplier, according to sources, has sold over 10,000 mt to Italy at $640/mt FOB, which is for now considered a little pricey. One more producer has traded over 10,000 mt to the Balkan region, and sources evaluate these deals to have been closed at $620-630/mt FOB. In addition to the EU, there have been small deals to Egypt at $628-630/mt FOB, SteelOrbis has learned.
Import offers from China have remained relatively stable this week, at least for now, at $580-585/mt CFR for Q195 material of 3 mm and higher. There has been talk about a recent booking at $595/mt CFR done at the weekend. “This is either for SAE1006 quality or for regular Q195, but including extras for deferred payment,” a trader assumed.