Turkish HRC export prices surge

Wednesday, 26 October 2016 14:55:56 (GMT+3)   |   Istanbul
       

Yesterday, October 25, prices of iron ore and all steel products including rebar and hot rolled coil (HRC) moved upwards in the Chinese futures market, led by the increases recorded in Chinese coking coal futures prices. Following this general upward movement, Chinese suppliers have increased their finished steel offers to the domestic and export markets. Also, with the ongoing rising trend of global scrap prices, hot rolled coil mills, which can use scrap or iron ore as raw material, have increased their prices due to higher production costs. Due to these market conditions, Turkish producers have today increased their HRC offers to the export markets by $17.5/mt on average to $455-465/mt FOB. 
 


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