Turkey’s prices for HRC have been relatively stable in all three market segments for several weeks now, supported by the high prices in China and firm import scrap prices. On the other hand, the demand for flats in Turkey has been rather modest lately, enough for mills to avoid sizeable discounts, especially considering upcoming repair works.
Import HRC offers from China have this week settled at $513-517/mt CFR for October shipments for Q195 3mm and up material, while most of the bids from Turkish re-rollers are at $500/mt CFR. However, according to market sources, some buyers in Turkey have booked a total of around 25,000 mt of HRC from China at $514-515/mt CFR. “The price is too high for the normal re-rolling usage but for pipe-makers including certain extras it should be fine, at least not impossible,” a trader said.
Other Asian suppliers are standing at higher levels in their offers, which are hardly considered workable at the moment. Malaysian material, according to buyers, is indicated at $540/mt CFR, $5/mt over the past week, while offers from Japan and Taiwan are voiced at $525-530/mt CFR, all for October shipments.
The Egyptian mill is focusing on alternative destinations, namely, Europe and Latin America, while the indicative levels for Turkey are voiced at $550-555/mt CFR, buyers reported. Russia is said to be currently out of the market, being sold out for October shipments.
In the meantime, domestic HRC prices in Turkey have been maintained at $555-560/mt ex-works levels, with $565-570/mt CFR also being voiced in list prices. The demand is still quite slow with only small and medium-sized lots changing hands. As for exports, Turkish mills are aiming to sell at $540-550/mt FOB as per the realistic market price, while official offers $10/mt higher are also being voiced in the market.