Ukraine’s Metinvest International S.A. has started the week with a price increase in hot rolled coil (HRC) offers to Turkey. The supplier is offering $390/mt CFR for small coils for December production, while at the end of last week the target price idea was $380-385/mt CFR. In the previous round, the lowest discussed level was $370-375/mt CFR.
Currently, the producer is not offering big coils; for November only trial lots of big coils have been transacted and the commercial production of the product will officially begin this week, as reported earlier.
Russia’s MMK is offering $390-400/mt CFR for small coils and $405-410/mt CFR for big coils, respectively, the same as a week ago. NLMK is in the market with $415/mt CFR for December shipments, by $15/mt up compared to the latest deals. Prices from South Korea are stable over the week at $420/mt CFR Turkey.
Turkey’s official domestic HRC offers remain stable at $415-420/mt ex-works; however, market players report sizeable deals at much lower levels, though this information has not been confirmed by the time of publication.