Turkish hot rolled coil (HRC) mills have started the week with another rise in targeted prices, this time mostly for April deliveries. Another rise in scrap prices, the positive situation in China, and the limited HRC allocation in the market have become the driving factors behind this increase.
While last week the offers and deal prices mainly stood at $750-765/mt ex-works base, this week has started with some mills voicing $780-785/mt ex-works, while others are aiming at $800/mt ex-works. As for exports, the price idea is $780-790/mt FOB, some sources report. “It is getting crazy and HRC prices here in Turkey are now much higher than in Asia,” a trader told SteelOrbis.