Domestic hot rolled coil (HRC) prices in Turkey have continued to increase with support from costlier scrap and limited allocation. By the end of the week, local producers have started offering at $800-810/mt ex-works base depending on the mill, versus $780-790/mt ex-works seen just a couple of days earlier. Most offers are for June deliveries. Turkey’s HRC export offers have been reported as $790-800/mt FOB.
In the import segment, Russian mills are standing at $765/mt CFR for April production, while Ukrainian mills have reportedly offered $760/mt CFR for small coils. Taking into account the price rise in the local market, the mentioned import level is expected to be widely acceptable soon on the buyers’ side.
The week has ended with surprise information shared in the market regarding an ex-Japan HRC sale of up to 30,000 mt at $810/mt CFR, which is considered very high for the Turkish market taking into account the offers from alternative sellers. Still, the information is largely taken as a confirmed report. “It has to be an effective price and for high grades. Otherwise, it’s not possible,” a trader told SteelOrbis.