Hot rolled coil (HRC) prices remain rather firm in Turkey, though demand has been weakening ahead of the holidays and due to low end-user demand. However, coated steel offers have risen this week, though the workable domestic price levels have remained at lower levels.
Domestic HRC prices in Turkey are now at $670-690/mt ex-works, $10/mt higher on the upper end over the past week. One of the mills, however, is said to be offering at $700-710/mt ex-works, although these levels are certainly not workable.
In the import segment, India has stepped back by $10/mt to $660/mt CFR, sources say. A 20,000 mt cargo ex-India was rumoured in the market as having been sold at $638/mt CFR, but the information has not been confirmed by the time of publication. China is currently offering at $630-640/mt CFR, up by $10/mt over the past week, while Vietnam has increased its offer by $15-20/mt over the past week to $640/mt CFR. Russian HRC is available at $600-620/mt CFR and $640/mt CFR depending on the producer.
While HRC prices remain quite strong, local coated offers have increased. Currently, PPGI is available at $1,030-1,080/mt ex-works, up $10-30/mt over the past week. HDG is on offer at $880-920/mt ex-works, up $10/mt on the lower end, but the workable level is at $860-870/mt ex-works. Local CRC prices are at $780-810/mt ex-works, but the actual workable level is said to be at $750-770/mt ex-works, SteelOrbis has learned.
