HRC prices in Turkey getting close to $600/mt ex-works

Thursday, 12 November 2020 17:31:36 (GMT+3)   |   Istanbul
       

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.


Similar articles

Flat steel prices in local Taiwanese market - week 13, 2024

28 Mar | Flats and Slab

European HRC prices keep falling, demand still shows signs of fatigue

28 Mar | Flats and Slab

Vietnam’s Hoa Phat and Formosa seek AD investigation on Chinese HRC

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

UAE’s HRC market still sluggish, offers from India fall slightly

27 Mar | Flats and Slab

Import HRC prices in Vietnam retreat again due to slump in China

27 Mar | Flats and Slab

Vietnam’s Hoa Phat produces nine millionth mt of HRC

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

HRC consumption in Mexico up 30.6 percent in January

26 Mar | Steel News

Local HRC prices sink further in Turkey

26 Mar | Flats and Slab