Hot-rolled coil (HRC) prices in Turkey have continued their steady uptrend, supported by decent domestic demand, re-rollers’ higher prices for their products and limited competition in the import segment. Moreover, Turkish mills have started to voice HRC offers for May production, claiming they are already sold out for April volumes. Some of them may still have allocation, buyers believe, but not in large amounts.
As the week ends, two local HRC producers have announced $960/mt ex-works offer for May production, up from around $920-930/mt ex-works in the latest deals. An Iskenderun region-based producer is offering at $930/mt ex-works or $950-955/mt CFR Marmara for rolling in the same month, while the previous deals were closed at $930/mt CFR Marmara, SteelOrbis has learned. The domestic HRC offers in the Izmir region still lack clarity, but some buyers reported the local mill is targeting $910-930/mt ex-works, while some said it has already revised its price to $950/mt ex-works for some customers. “We have had such a crazy two weeks. Every [price] increase has been accepted,” a producing source told SteelOrbis.
In the import HRC segment, the latest offers from India have been reported at $900/mt CFR with a further increase anticipated. The presence of CIS-based mills in the Turkish market has been limited, taking into account that MMK export trade is significantly limited due to the current maintenance period. One offer for May shipment has been reported at $900/mt CFR, while another Russian mill was considering offering as high as $940/mt CFR for its limited allocation. No clear HRC offer confirmation has been received for ex-Ukraine HRC prices, but a few sources commented the mill there is offering at around $930/mt CFR.
