Turkey’s hot rolled coil (HRC) market is getting ready to enter the new round of import negotiations, this time for June production. Foreign suppliers have been voicing new offers one by one with some of them aiming at higher price levels compared to latest deals, while some offer stable levels.
In the import segment, offers from Russia’s MMK have been heard at $380-385/mt CFR, $5-10/mt above the latest deal levels. NLMK is expected to announce around $385/mt CFR or slightly higher. In the meantime, some sources report offers from Severstal are at €360/mt CFR or $390/mt CFR according to the current rate. Indications from Ukraine have been reported at $375-380/mt CFR, in line with the previous bookings.
Alternative sellers have also been present in the Turkish market. Suppliers from South Korea have been rather aggressive in the Turkish market lately. According to sources, a 20,000 mt lot was sold at $395/mt CFR last week. In addition, ex-EU HRC has been offered at $390/mt CFR. A deal for around 20,000 mt was rumored at $380/mt CFR for HRC of the mentioned origin, but it was not confirmed by the time of publication.
Turkish HRC producers have kept their official offers high, but prefer to act according to the buyer and the market situation, so it seems. In the local market, offers are at $400-410/mt ex-works for June deliveries. However, some 20,000 mt of HRC were sold at the end of last week to a re-roller at $390/mt ex-works, sources say. On exports, the official offers are at $400-410/mt FOB. However, mills admit the demand is hardly above $380-390/mt FOB. Some sales have been closed at around $390-395/mt FOB to the EU since the past week, as was reported earlier.
