Following the import scrap price rise, coupled with China making a positive return after the holiday period, Turkish hot rolled coil (HRC) producers have attempted to increase their prices. Another important reason is that the mills are sold out for April production and are relatively not in a rush.
Most mills in Turkey now have their prices at $770-775/mt ex-works in the local market, while earlier this week it was possible to book at $750-760/mt ex-works. Business activity has improved somewhat since buyers now believe the market is positive and there are more factors in favour of price increases.
In the import segment, Russia’s MMK has increased its offer for April production by $10/mt since earlier this week to $740/mt CFR. Some negotiations have been reported with no deal concluded at the moment, SteelOrbis understands. According to sources, Ukraine’s Metinvest is at $730/mt CFR in its offers, while the latest deals have been reported at $700-715/mt CFR depending on the coil weight.
