While import scrap prices in Turkey have remained firm at high levels, and import HRC offers are still not so aggressive, local Turkish mills have maintained their HRC prices unchanged. In the meantime, domestic demand for HRC is still at moderate levels, allowing mills to make some progress in their sales for March deliveries.
Local HRC prices in Turkey are mainly at $560-570/mt ex-works base, with $555/mt ex-works/delivered levels also reported from one of the mills. Most offers have been reported for March deliveries, while one of the mills is already voicing offers for April. In the export segment, Turkish HRC prices have been maintained at $540-550/mt FOB.
HRC offers from China for Q195 material and for cargoes for March shipments are mainly at $503-505/mt CFR, but some buyers assume it is possible to obtain levels of $495-500/mt CFR levels under the current market conditions.
Russian HRC mills are still offering the most attractive prices for Turkey in terms both of price levels and lead times. According to sources, the latest offers from a non-sanctioned producer have been at $510-515/mt CFR, while previously around 30,000-35,000 mt of March shipment HRC was sold at $500-510/mt CFR. One of the sanctioned mills from Russia has returned from the holidays with $485/mt CFR offers for March shipments, while another mill, according to a few buyers, is targeting around $470-475/mt CFR for February shipments.
As for duty-free origins, prices from Malaysia have remained indicative at $545-555/mt CFR for March shipments, with still not many negotiations reported. In the meantime, the Egyptian mill is still out of the market even though it was expected to return with offers by mid-January with lots for March shipment.
