Hot-rolled coil (HRC) prices keep up the solid uptrend in Turkey with another increase registered this week. The official offers in the local market of Turkey rose by at least $20-30/mt since late March to $950-970/mt ex-works coming from some suppliers. In the meantime, offers of up to $980-1,000/mt ex-works have also been reported in the market. The mentioned offers are considered to be for August deliveries. Export offers are set to increase too, especially following the recent price rise by ArcelorMittal in Europe.
Russian mills who have been refraining from the firm offering of HRC for June production earlier, have now set the price, following the local market uptrend in Turkey. Both NLMK and MMK have announced $960/mt CFR levels while earlier the price of $920-930/mt CFR was considered as a workable level. No solid information regarding offers from Ukraine has been reported this week. Some customers said the producer has decided to wait for now, but some reported there were small deals at $920-930/mt CFR depending on the coil size which were done early this week.