Hot-rolled coil (HRC) suppliers to the Turkish market are closing the year with rather strong prices as most of them are sold out or even overbooked. Higher scrap and slab prices, coupled with the decent demand from the re-rollers, support the bullish HRC mills’ moods.
In the local market the HRC offers are at $800/mt ex-works minimum, while earlier this week $10-20/mt lower levels have been possible. Some mills prefer not to quote widely, while some have been voicing up to $820/mt ex-works in offers. According to sources, latest deals to the re-rollers have been closed at $760-780/mt ex-works over the past 10 days or so. Currently, the mills are in the market to sell for April deliveries.
In the import segment offers from Russia have been reported at $750-765/mt CFR for February production depending on the mill. Ukraine’s supplier, according to the buyers, has offered $750/mt CFR this week for the small coil.