HRC offer levels gain clarity in Turkish export market

Ex-Turkey hot rolled coil (HRC) offers have gained clarity by declining to the level of $620-630/mt FOB, after definite HRC export offers had failed to emerge in the past month amid extremely low demand. While Turkish HRC export offers had been at levels of $680-690/mt FOB in recent months, exporters had refused to reduce their offers further amid the absence of demand and so prices had followed a stable trend. On the other hand, it is still not clear whether ex-Turkey HRC offers will gain acceptance, as Italy and Ukraine have more competitive export offers.