Turkey-based hot rolled coil (HRC) producers have taken another step forward in their local prices. Lately, demand has been sufficient, especially from the re-rollers’ side, which has supported the mills. Another factor is the stronger slab and scrap pricing, coupled with the positive situation in the European market.
Earlier this week, Turkey’s domestic HRC prices were ranging within $550-560/mt ex-works for February deliveries. Currently, according to sources, the minimum local indication is $580/mt ex-works, while some mills have been voicing $590-600/mt ex-works, claiming they are more or less sold out. Still, some buyers believe levels of $570/mt ex-works and maybe a bit lower may be possible. “This increase is way too sharp and is usually followed by a painful drop. We all have to be careful,” a trader told SteelOrbis.
Import offers are expected to be updated upwards also, taking into account higher local prices in Turkey.
