Turkey’s hot rolled coil (HRC) market has been quiet lately, partly as the local mills have moved on to selling for December deliveries, while buyers find it a bit early to restock.
Local and export offers from Turkey have remained relatively stable over the week at $530-545/mt ex-works/FOB depending on the supplier. Turkish mills have some hopes for the European market, where deal prices for HRC have continued climbing this week.
Business in the import segment has also been rather limited since the buyers are trying to evaluate price prospects and the availability of material. Russia’s MMK is in the market to sell for November production, while its offers to Turkey have been voiced at $525/mt CFR, SteelOrbis has learned. Severstal, another Russian supplier, has been offering at €452/mt CFR, which is equivalent to $527/mt CFR ($1 = €1.166). NLMK is out of the market for now, while some market players expect the mill to announce nothing below $515-520/mt CFR as its HRC allocation for November production is limited. Ukraine’s Metinvest, in the meantime, has been offering $510/mt CFR for small coils, again for November production.