HRC prices in Turkey have surged over the day, again due to the consequences of Russia’s attack on Ukraine and therefore limited coils availability. Domestic mills have changed the prices several times today and the offers, reported in the market, are now in a wide range because the players are trying to understand where the actual prices should be. “All regular factors, affecting the market, and which lead to certain situation, price and trend – are now completely off. Now these factors are availability, sourcing, insurance issues, vessels situation, freights, payments and many many more, which are currently unclear at all,” a trader said.
While yesterday the local offers were at $990-1,020/mt ex-works, today some mills announced $1,100/mt ex-works and closed the sales, and most probably will return with the higher levels. Some offers were there at $1,150/mt ex-works, some were at $1,200/mt ex-works. One of the mills, according to sources, announced $1,245/mt ex-works, but maybe for a closer delivery. “We will be seeing even crazier levels soon, the market is in a complete chaos for now,” a source told SteelOrbis.
