Import slab prices in Turkey are mostly expected to rise in the coming deals, taking into account the increased gap with the hot rolled coil (HRC) sale and offer price levels.
Domestic prices for HRC in Turkey are still at $1,020-1,050/mt ex-works for August deliveries, similar to the levels at the end of last week. In the export segment, the latest deals were sealed at $1,000/mt FOB to the southern EU for 5,000-10,000 mt lots and at $1,020/mt FOB to the Antwerp region, SteelOrbis has learned. Currently, mills are quoting mainly at $1,020/mt FOB, with some having announced $1,050/mt FOB in line with local prices and the latest sales prices to the US. However, this level is not yet considered workable for the regular European destinations.
In these circumstances, ex-CIS steel slab is considered to be underpriced by most market players, and the CIS-based mills are foreseen to increase their official offers. Following the prices of $860-880/mt CFR seen last week after the deals at $820-825/mt CFR closed two weeks ago, the CIS is expected to announce $900-910/mt CFR minimum. Some buyers believe they will soon receive offers at $920-925/mt CFR, SteelOrbis understands.
