Market fundamentals have remained rather positive in Turkey for flats producers and so the mills have further increased their offer levels.
Local prices have increased by around $5-10/mt since early last week to $700-710/mt ex-works in most of the offers heard by market players. Some of them, however, report that the level of $720/mt ex-works is also present in the market.
In such a situation, not all of the foreign suppliers have firm prices for Turkey as some of them prefer to evaluate the current situation. The latest deals from Russia were fixed at $660/mt CFR for 5,000-10,000 mt lots. The current offers are at $660/mt FOB or $675/mt CFR minimum. In addition, ex-China offers have been reported at $660-670/mt CFR, in line with last week’s levels.
