Although the overall level of demand for hot rolled coil (HRC) in Turkey has remained weak, some buyers have preferred to restock but on the import side and not from local suppliers.
According to sources, at the end of last week a Turkish mill purchased a 30,000 mt HRC cargo from China at $580/mt CFR for June shipment and for Q195 base quality and thickness of 3 mm and higher. A little earlier, according to sources, two Turkish re-rollers booked 10,000-15,000 mt each again from China for base grade and 2-4mm HRC at $575-580/mt CFR.
Materials of other Asian origins are not workable in Turkey due to high levels and there are hardly any negotiations. In particular, India is offering at $625-630/mt CFR as reported earlier, while South Korea is targeting $650/mt CFR.
Following the Chinese bookings, the pressure on local Turkish mills has increased. Most market players report it is already possible to push for $690/mt ex-works for June deliveries, while the official level is at $700-710/mt ex-works.
