Local HRC prices in Turkey have softened over the past week after a rather long period of insufficient to moderate demand, somewhat slow sales to the EU, but also weaker import scrap prices, in the most recent deals. As a result, some minor discounts have been granted.
According to sources, official domestic HRC prices have been announced at $545-555/mt ex-works for November deliveries, down $5-10/mt depending on the supplier. Moreover, buyers consider $535-540/mt ex-works/CPT Marmara levels possible for medium and large lots. Export offers for HRC from Turkey are at $535-545/mt FOB with minor discounts also possible in the case of serious orders.
Import offers for November shipments of HRC from China have slid by a couple of dollars from late last week to $509-518/mt CFR for re-rolling grades, while bids are not above $500-505/mt CFR. In the meantime, pipe-making HRC, including size extras, is on offer for end-of-November shipments at $545/mt CFR, SteelOrbis has learned.
A non-sanctioned Russian mill, according to sources, has finished selling to Turkey for November shipments of HRC with the latest deals reported at $510-515/mt CFR. The total volume is estimated at around 30,000-40,000 mt. The sanctioned HRC producer from Russia has remained focused on dealing with the MENA region at $495-500/mt CFR, while the bids from Turkey for the sanctioned material have been reported in the range of $470-490/mt CFR depending on the buyer.
