While longs and billet prices have been surging in Turkey, supported by higher production costs, local flats suppliers have also decided to raise their offers, for the domestic market specifically.
The local prices for hot rolled coil in Turkey are now at $880/mt ex-works minimum, versus $850-870/mt FOB last week. Some sources report there are $900/mt ex-works levels offered to the local buyers as well. In the import segment, only Ukraine’s Metinvest is present nowadays with $850-860/mt CFR offers, up $20-30/mt over the past week.
In the cold rolled coil (CRC) segment, some re-rollers are offering at $1,050-1,070/mt ex-works, while last week the range was at $960-1,020/mt ex-works. “The aggressive offers are no longer there in the market and availability is also tight,” a producer told SteelOrbis. Hot dip galvanized coil (HDG) offers are now at $1,080-1,220/mt ex-works depending on the mill, up $30/mt over the past week. Local offers for PPGI have increased by around the same amount to $1,260-1,300/mt ex-works, but the lower end of the range will hardly be available for long. “There will be more corrections. Those are the indications from some producers, while others are still deciding. Scrap increased again, so HRC will be stronger too,” a source said.
