Hot-rolled coil (HRC) producers in Turkey have maintained their domestic prices unchanged this week, even though local buyers have not been showing interest. For a couple of weeks now, they have been sceptical regarding domestic price levels, particularly as they have been receiving much more attractive offers from China. Moreover, over the past few weeks the large buyers have been actively booking flats from China.
Most Turkish HRC producers have kept their domestic offers at $1,280-1,350/mt ex-works this week, for June deliveries. “The big buyers were not in the market this week. They have already booked from China, in big tonnages. But they will also secure some tonnages from the domestic market. I think next week they will start to do so,” one supplier told SteelOrbis.
According to sources, the latest ex-China HRC bookings to Turkey have been closed at $1,000-1,030/mt CFR this week, for May shipments. “I think now we are getting close to 700,000 mt of various flat products sold from China to Turkey since the end of February,” a source said. Other Asian suppliers are also offering HRC to Turkey, but their prices are not considered workable: India is at $1,220-1,250/mt CFR, while Vietnam is at $1,260/mt CFR, SteelOrbis has learned. It is worth mentioning that most Asian sellers are more eager to trade their HRC to the EU where prices are higher, leaving the Turkish market to China which has high duties on its sales to the European market.
