The import slab business remains lively in Turkey as local hot rolled coil (HRC) producers show decent demand in view of sky-high flat steel offer prices and the still positive situation in the scrap segment. As a result, CIS-based slab suppliers have managed to reach a new high in deals to Turkey.
Last week, at least two slab cargoes for March shipment of 20,000-30,000 mt each were sold to Turkey at $700/mt CFR. The initial offer level was $700-710/mt CFR, as reported earlier. Moreover, the new offers from Ukraine have been reported at as high as $720/mt CFR this week. Sources report that slab availability is low nowadays, while demand is still sufficient. “I feel more cargoes could have been booked at $700/mt CFR. The price is workable according to the HRC levels,” a producer told SteelOrbis.
The latest offers for HRC in Turkey have been voiced at $805-820/mt ex-works base depending on the producer and the lead time. Most offers, however, are for April deliveries.