Business activity in Turkish hot-rolled coil (HRC) market has been limited this week as most players are in the holiday mood. Prices have remained relatively stable with only rare deals being closed.
In the domestic market Turkish mills are offering HRC for March deliveries at $500-520/mt ex-works depending in the region, the same as a week ago. According to sources, around 20,000 mt of HRC were sold last week at $510/mt ex-works to a re-rolling company. On exports Turkish mills are offering HRC in a rather wide range of $490-520/mt FOB depending on the supplier. However, the prices above $500/mt FOB are not considered workable. One of the mills has recently sold 20,000 mt of HRC for end-February-March shipment to North Africa at around $495/mt FOB, SteelOrbis has learned. Otherwise, the foreign demand has been quiet since the European buyers are on holidays.
Import segment has been inactive also, the CIS mills are expected to give offers for March production of HRC for Turkish markets by mid-January. Buyers in Turkey expect the levels to be announced at around $480-500/mt CFR depending on the seller.
