Ex-CIS import offers for hot-rolled coils (HRC) in Turkey have strengthened since the end of October, given the firm and high prices in the mentioned market and the somewhat limited import allocation. Local business activity has been moderate as buyers prefer to wait for scrap market developments before they actively restock.
Import offers from Ukraine’s Metinvest have increased by around $10-15/mt over the past week to $910-920/mt CFR, with the lower end considered workable at the moment, SteelOrbis understands. Russia’s MMK, according to sources, traded 30,000-40,000 mt of December production HRC to Turkey in late October at $900/mt CFR. NLMK, another Russia-based producer, is expected to announce between $920-930/mt CFR for its December allocation. In addition, offers from India have been reported at $915/mt CFR. Some sources have reported a HRC sale from Slovakia, believing it was done at below $900/mt CFR levels. However, the details have not been disclosed by the time of publication.
In the local Turkish market, HRC for January deliveries is available at $930-940/mt ex-works, up $10/mt on the lower end over the past week. Still, buyers believe $5-10/mt discounts may be on the table.
