The new week has started with another significant price increase for hot-rolled coils (HRC) in Turkey’s domestic market. Although demand has not been so active, the overall market expectations remain positive, given rising raw material and slab prices and a solid price uptrend for HRC in Europe.
The domestic HRC prices in Turkey have increased by at least $50/mt over the past week with two mills offering at $1,300/mt ex-works and one still ready to deal at $1,250/mt ex-works. Another supplier, who is not a market maker in the domestic segment, is voicing offers at up to $1,350/mt ex-works, SteelOrbis has learned. Last week, the general offer range for HRC in Turkey was at $1,200-1,250/mt ex-works. Mills are nowadays offering for June production.
In the import segment, the latest offers from China were at $1,045-1,055/mt CFR for SAE 1006, but they may be revised upwards rather shortly. “The difference is huge, but also our domestic price level is not showing the reality,” a trader told SteelOrbis.
