Livelier import activity has been seen in Turkey’s hot rolled coil (HRC) market as some negotiations have been finalized with several CIS-based sellers. In the meantime, local HRC prices in the country remain firm while the mills are offering for May production and even higher levels are voiced for small batches with shorter lead times. In the meantime, the Asian HRC offers freshly announced to the Turkish market are considered competitive enough to give rise to expectations that some deals will be closed soon.
According to sources, around 10,000-15,000 mt of March production HRC were sold by a Russian mill at around $930/mt CFR at the end of the past week and the remaining allocation from the supplier is very limited. Another ex-Russia supplier was offering $920/mt CFR but with May 15 as the latest date for shipment, SteelOrbis has learned, and so no deals have been heard just yet. In the meantime, up to 10,000 mt of small coils from Ukraine were sold at the end of last week at $930/mt CFR for April shipment.
Offers for Asian origin HRC are also present in Turkey’s market. The latest deal, for 10,000 mt, was closed last week at $890/mt CFR for a position cargo, while early this week the offers are at $900/mt CFR via traders and at $910-920/mt CFR from first-tier mills. Traders’ offers for ex-China HRC, which is just back from the holiday, are somewhat below their competitors’ expectations. The offers for March-April shipments are at around $895-915/mt CFR depending on the tonnage and the discharging port, marking the lowest price level in Turkey’s import segment. There has already been information reported regarding some deals, but the details could not be clarified by the time of publication.
In the domestic market, most offers are for May production HRC, ranging within $950-960/mt ex-works base. Some buyers, however, report indications at $970-980/mt ex-works for smaller orders and for closer lead times. Turkey’s export prices are mainly at $910-930/mt FOB, lagging behind domestic offers. European demand remains weak with the workable price levels from Turkey expected at $870-880/mt FOB, sources report. In the meantime, around 30,000 mt of HRC from India were sold at $925/mt CFR southern EU and the offer has risen further to $950/mt CFR.
