As the import hot rolled coil allocation remains limited in Turkey, local buyers are negotiating with those sellers who are currently present in the market.
According to market sources, Russia’s NLMK has offered $510-515/mt CFR for small HRC lots for March shipment with the lower end of the range being workable for now, SteelOrbis understands. “The offered volume is very small, so people buy to keep up contact [with the mill],” a local player suggested. In addition, Ukraine’s Metinvest is in talks with Turkey with offers at $495/mt CFR for March production. Indicative prices from Asian suppliers are at $535/mt CFR, stable over the past week and with no interest seen from the buyers’ side.
Local Turkish HRC prices are at $510-515/mt ex-works and above, the same as a week ago.
As regards exports, the official offers are at $500-510/mt FOB for March shipments; however, sources say $490-495/mt FOB levels are considered possible by some sellers. In particular, according to market information, around 30,000 mt were sold to southern Europe at slightly below €470/mt CFR, which translates to around $495/mt FOB base, SteelOrbis understands.