The hot rolled coil (HRC) market in Turkey continues to see fluctuations of import prices, particularly of prices from China. Lately, import offers have rebounded, making some potential buyers step back from negotiations. In the meantime, Turkey’s HRC prices for domestic and overseas customers have remained largely stable, despite the lack of orders in both segments.
Currently, ex-China Q195 grade HRC, 3 mm and higher, for November shipment is available in Turkey mainly at $500-510/mt CFR, up from $490-493/mt CFR at the end of last week. Some sources reported a few tonnages have been sold at around $490/mt CFR, but the information could not be fully confirmed by the time of publication. “China is fluctuating, reacting to every movement in iron ore and futures prices, and buyers are waiting. But the reality is you cannot make a mistake buying now at anything below $500/mt CFR,” a trader commented to SteelOrbis.
Local HRC prices in Turkey are still at $580-590/mt ex-works, with $570-575/mt ex-works considered possible for large tonnages. The mills are offering for October-November deliveries. As for exports, most initial offers are at $580-585/mt FOB for October-November shipments, and with $5-10/mt discounts possible. “The problem is that such discounts are not big enough for us to see good orders. The bids are much lower,” a source said.
Turkish re-rollers, who are one of the main importers of HRC, have made an attempt to increase their prices by around $10/mt, but demand has generally remained low. Currently, domestic HDG prices for 0.5 mm Z100 material are at $780-810/mt ex-works, PPGI is at $910-935/mt ex-works, while CRC is available at $690-710/mt ex-works, SteelOrbis has learned.
