Higher costs force local Turkish HRC mills to raise their domestic offers

Wednesday, 05 October 2022 17:53:49 (GMT+3)   |   Istanbul
       

Hot rolled coil (HRC) prices in Turkey have continued to climb, though they are mainly pushed by higher production costs rather than by livelier demand. Although some minor lots have been purchased, though demand overall is still not sufficient.

Local HRC buyers have been reporting that they are receiving offers from the mills at $700-730/mt ex-works base for November production, while early last week it was possible to book at $660-680/mt CFR. Small sales were indeed concluded in the mentioned range, but later the producers decided to increase their prices due to higher import scrap levels and the anticipated further rise of energy costs. “Mills say nothing below $700/mt is profitable now for HRC, which is a pity because imports are competitive,” a source told SteelOrbis.

Ex-Russia HRC from one supplier has slid to $590/mt CFR as a workable level and it has not been accepted by the producer, which has been aiming to sell at $600/mt CFR and above. South Korea is now in the market with $630-640/mt CFR offers, up from $620-625/mt CFR sales in the past week.


Similar articles

Flat steel prices in local Taiwanese market - week 13, 2024

28 Mar | Flats and Slab

European HRC prices keep falling, demand still shows signs of fatigue

28 Mar | Flats and Slab

Vietnam’s Hoa Phat and Formosa seek AD investigation on Chinese HRC

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

UAE’s HRC market still sluggish, offers from India fall slightly

27 Mar | Flats and Slab

Import HRC prices in Vietnam retreat again due to slump in China

27 Mar | Flats and Slab

Vietnam’s Hoa Phat produces nine millionth mt of HRC

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

HRC consumption in Mexico up 30.6 percent in January

26 Mar | Steel News

Local HRC prices sink further in Turkey

26 Mar | Flats and Slab