Steel slab importers in Turkey have continued to remain interested in deals with CIS-based suppliers. However, despite a strong Chinese market, they have managed to insist on discounts, most probably supported by weaker scrap pricing.
According to sources, around 80,000 mt of slabs for July shipments were booked by Turkish mills at the end of last week mainly at around $340/mt CFR, with only some lots traded close to $345/mt CFR. The same level was fixed in the previous round of sales for around 80,000-100,000 mt for June shipments, while later on CIS-based suppliers were insisting on $350/mt CFR, as SteelOrbis reported earlier.
China continues to project positive sentiment to the market with the most recent deals closed with an increase of around $15/mt to $380-385/mt CFR from Asia-based sources. “Turkey is a large market and slabs can be sold in less volume than 50,000 mt per buyer. In addition, sellers have been here for long and good relations have to be kept,” a trader said.