Ukrainian steelmaker Ilyich production hot rolled coils are being offered at $575-580/mt CFR Turkey for late October shipments; however, since buyers have opted to make their next move only after seeing the Russian prices to be announced next week, they are not showing much interest in Ilyich's prices. Cold rolled coil prices for November shipments ex-same mill are expected to increase by $10-15/mt this month as compared to last month. Moreover, Grade A plates ex-Ilyich mill are being offered at $725-735/mt CFR Turkey for early November shipments. On the other hand, St 37 plates ex-same mill are being offered at $690-695/mt CFR Turkey, also for early November shipments.
Zaporizhstal production hot rolled coils were being offered at $590/mt CFR Turkey last month; however, the producer offered less material to the market as compared to previous periods. The Zaporizhstal prices to be announced this month will rise if the Russian mills hike their prices. However, the fact that the Ukrainian local market is still a strong buyer should be disregarded. When the Ukrainian local market is strong, Zaporizhstal generally cuts its exports by a certain amount.
Russian steelmaker MMK is expected to announce its prices for this month next week. According to market rumors, the prices of the mill are expected to increase. Any possible increase could cause a rise in the prices of the Bulgarian and Ukrainian mills, which are due to announce their new prices after MMK.
Bulgarian steelmaker Kremikovtzi is offering hot rolled sheets at $635/mt CFR Turkey for October shipments. On the other hand, the producer is offering hot rolled coils at $620/mt CIF FO Turkey, also for October shipments.
In the local Italian market, ILVA production hot rolled coils have increased to a range of €475-480/mt, excluding VAT. ILVA's price, which was at €460/mt in July, has seen an increase after the holiday. However, acceptance of this level by the buyers may take time. In the Italian market, Iranian origin hot rolled coils are being offered at €445-455/mt FOB, while Chinese origin hot rolled coils are being offered at €410-415/mt FOB. On the other hand, Libyan origin hot rolled coils are being offered to southern Europe at €470/mt CFR for October shipment.