CIS-based hot rolled coil producers have been gradually starting a new round of offers for the Turkish market for January production. Higher levels are targeted owing to the clear uptrend seen in the Turkish market.
Russia-based MMK is in the market to sell January production big coils at $430/mt CFR and small coils at $420-425/mt CFR. The HRC for rolling in December were mainly sold to Turkey within $405-415/mt CFR, SteelOrbis understands. Another Russian mill, NLMK, is currently out of the market, having sold some lots at around $415/mt CFR, sources say. Buyers expect the producer to announce $430-440/mt CFR for January production offers to Turkey. In the meantime, Severstal prefers not to give any price and to evaluate the market instead.
Ukraine’s Metinvest is offering small coils from its Zaporizhstal mill at $430/mt CFR for shipments in February, while at the end of last week the supplier’s price was at $410/mt CFR. Market sources comment that the sizeable price hike might be connected with a certain limitation of allocation, resulting from production problems at Illyich SW.
In the domestic market in Turkey, HRC is currently available at $445-450/mt ex-works and above, while the latest deals to the large and medium-scale customers were closed at $430-440/mt ex-works. Turkish mills are offering February production HRC.