Turkish buyers have been cautious in their stance towards hot rolled coil (HRC) imports since suppliers have been trying to take advantage of costlier scrap to increase their own offers. As a result, deals have been scarce.
Russia’s Severstal sold 30,000-35,000 mt of HRC for June production to Turkey at $350/mt FOB last week, which corresponds to around $375-380/mt CFR base, SteelOrbis has learned. This week, other Russia-based sellers, according to sources, have been testing the market with $380-385/mt CFR offers; however, there have been no takers just yet.
An ex-Ukraine supplier has been selling at $365/mt CFR for small coils and at up to $375/mt CFR for big coils since late April, as SteelOrbis reported. This week, the producer may revise its target prices according to the market situation.
Aside from the CIS, there are some indications from Asian producers, but they are not considered workable. South Korea for instance is at $390-400/mt FOB minimum nowadays.
In the domestic market in Turkey, HRC offers have been settled at $390-405/mt ex-works and above for June deliveries, as SteelOrbis reported earlier.
