HRC import prices continue to slide in Turkey

Wednesday, 25 September 2019 16:25:18 (GMT+3)   |   Istanbul
       

Prices of hot rolled coil (HRC) from abroad have continued to soften in Turkey, being under pressure from limited demand and the weak positions of local Turkish producers. However, some players are hopeful for some rebound if there is a positive outcome from the talks with the US.

Russia’s MMK is currently offering HRC (both small and big coils) at $430/mt CFR for November shipments, with $425/mt CFR also possible to get. In the meantime, the latest deals from NLMK have been reported within $430-435/mt CFR while initially the supplier was selling $440-445/mt CFR for shipment in the same month. Ukraine’s Metinvest International S.A.’s offers are standing at $430-435/mt CFR, but bids are heard at $410-415/mt CFR with no fresh sales reported.

In the meantime, Turkey has remained interested in HRC from Asia. According to the sources, around 20,000 mt were sold from Japan at around $435-440/mt CFR for October shipment. “There was an unsold allocation. That’s why the price is lower than expected,” a local source said.

In the local market of Turkey, HRC is offered mainly at $440-450/mt ex-works indicatively, but buyers say $435/mt ex-works should be available too. Exports remain challenging with prices having fallen by around $10/mt. Turkey is currently offering $430-445/mt FOB for November production; some small lots have been changing hands to the EU at $425-430/mt FOB, SteelOrbis has learned.


Similar articles

US sheet prices tick up modestly ahead of Easter weekend

28 Mar | Scrap & Raw Materials

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