Local and export HRC prices rise in Turkey, import offers follow

Friday, 08 November 2019 16:43:39 (GMT+3)   |   Istanbul

Hot rolled coil (HRC) prices have moved up in Turkey in all segments owing to stronger scrap and the restarting of exports to Italy. In addition, Turkish mills have started selling for January, while the CIS is in the market with December production.

In the domestic market, HRC for January deliveries is mainly available at $430/mt ex-works, up by around $10-15/mt since the end of October. Some say $10/mt higher levels have also been offered, most probably to smaller customers. Livelier exports have resulted in an increase of around $15/mt in prices, mainly in sales to Italy and other southern EU countries. According to market sources, HRC sales to Italy, which have become more active amid the Ilva issue, have closed this week at $415-418/mt FOB; while mills say that $420/mt FOB is achievable. The indicative offers, however, are up to $430/mt FOB and above.

CIS mills have been following the general uptrend. Metinvest is offering small coils at $400/mt CFR (+$10/mt since early this week); negotiations are reported at $395/mt CFR. MMK is offering small coils at around $405-410/mt CFR and big ones at $415-420/mt CFR, up by around $10/mt. NLMK is targeting to sell at $430/mt CFR today, up by $5-10/mt from the earlier-voiced levels. Severstal has already sold some sufficient lots to Turkey, with the price estimated within $400-410/mt CFR, SteelOrbis understands.

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