Turkey’s hot rolled coil (HRC) market remains uncertain in terms of prices, while the gap between the official and workable prices has been widening. In the local market, Turkish mills claim they are sold out for April production and are unwilling to offer anything below $780-790/mt ex-works for May deliveries. However, buyers consider levels of $750-760/mt ex-works as workable for now.
Active exports, especially after providing discounts, have helped the Turkish mills to minimize pressure in terms of selling out April production. According to sources, a 20,000-25,000 mt cargo has been sold to Italy at $740/mt FOB. Similar levels and a similar lot has also been reportedly traded to one of the African countries. Earlier, the estimated FOB offer levels were standing at $760-770/mt.
In the import segment, one Russian mill sold a medium-sized volume at around $745/mt CFR, down by about $10/mt over the past week. Another supplier from Russia is ready to discuss $730/mt CFR while earlier its price stood officially at $770/mt CFR. “Market sentiment has somehow improved since Wednesday. There are more phone calls, at least buyers have started to ask the price,” a source told SteelOrbis. No firm information has been heard regarding prices from Ukraine. Some sources reported sales at $720/mt CFR, while some expected the levels to be at $700-710/mt CFR. However, the producer was out of reach for comment by the time of publication.
