Turkey’s import slab market has been quiet lately although negotiations continue. Buyers are not in a rush to accept the current offers and place far lower bids, taking into account the uncertain situation in the hot rolled coil (HRC) segment. In particular, India has been in the market with rather aggressive offers and has managed to sell significant volumes. In the meantime, local HRC producers in Turkey have been trying to avoid sharp price drops.
Current ex-CIS slab offers are at $960-970/mt CFR for July production, SteelOrbis has learned. However, buyers are targeting closer to $930-935/mt CFR, while some suppliers mentioned levels of $940-950/mt CFR could be workable for them. Offers from Brazil have been reported at $1,000/mt CFR for production in the same month, with no interest seen from the Turkish side.
Generally, Turkish mills are being quiet in terms of slab bookings due to the uncertainty in the HRC segment. India has been in the market with aggressive $1,020-1,030/mt CFR levels. Despite that, domestic HRC mills in Turkey are resisting sharp price drops and are mainly offering at $1,160-1,180/mt ex-works, the general mood in the market is not very optimistic. Some buyers, however, say these levels are negotiable.