While local and export prices for the Turkish hot rolled coils (HRC) have been trending up since last week, import offers have received the needed support. As a result, some CIS-based mills managed to increase deal prices as compared to the previous round of sales.
Ukraine’s Metinvest has recently sold around 30,000 mt of December production of HRC to Turkey within $400-410/mt CFR for small coils: current offers remain at $410/mt CFR. The November rolling material was sold at $370-380/mt CFR.
Russia-based mills have also increased their HRC offer levels for December quite significantly. MMK is currently in the market with $420/mt CFR for both big and small coils, but no deals have been reported so far. NLMK, according to sources, is negotiating with buyers these days, with some reporting deals closed last week at $425/mt CFR. Last month, the lowest prices from Russia were at around $390/mt CFR.
Turkish prices are currently set at $435-450/mt ex-works for January deliveries to the local market and at $430-440/mt FOB for export orders, as SteelOrbis reported earlier.