Another price increase for hot rolled coils (HRC) has been seen in the Turkish market, both in the local market and on the import side. According to sources, Turkish mills have added another $10/mt to their domestic prices, which are now standing at $660-670/mt ex-works for March deliveries. Export offers are reported at $650-660/mt FOB.
In the import segment, Ukraine’s Metinvest has been able to achieve $625/mt CFR for small coils, while its offers for big coils are at $640/mt CFR, up $10/mt from the previous sale. Russia’s NLMK prefers to watch the market for now, but buyers expect the mill to return with $640-645/mt CFR minimum. The latest HRC price from MMK has been voiced at $640/mt CFR today, up $5-10/mt since earlier this week. Severstal has been selling to Europe at $620/mt FOB Baltic Sea, which would be around $640-645/mt CFR Turkey, SteelOrbis estimates.