The mood has remained positive in Turkey’s hot rolled coil (HRC) market at the end of the current week, while most suppliers are bullish. Higher scrap and import slab prices, in addition to the most recent uptrend announced in the EU, have resulted in expectations of another price rise in Turkey itself.
Moreover, while throughout most of the week local HRC prices have been ranging within $750-765/mt ex-works, by the end of the week one mill has increased its price idea to $780/mt ex-works. Another producer, according to buyers, intends to target $800/mt ex-works next week.
In the import segment, Russia’s MMK has traded up to 10,000 mt of HRC at $730/mt CFR and its offer is expected to go up next week. NLMK has been in the market with $740/mt CFR, with no information heard about deals. Most CIS-based HRC suppliers are more or less sold out for February, which is expected to provide additional support for Turkish mills, SteelOrbis understands.
