Import steel slab prices remain on the downward track in Turkey, being under pressure from the weak HRC market in the country. In addition, the import scrap prices in the country continue to fall. As a result, a recent deal for around 30,000 mt was closed at around $395/mt CFR at the end of last week, while in the previous round the sales were done at $400-405/mt CFR. The level of the mentioned transaction translates to around $380/mt FOB, SteelOrbis understands.
As Turkish HRC prices continue to fall and market sentiment remains pessimistic, mills’ expectations on slab pricing is weak. Some buyers assess the current workable level at no higher than $370-375/mt CFR, while some plan to aim for $10-15/mt lower than that. “HRC is below $440/mt today and will be falling further as there is no buyer around,” a producer mentioned.