Internal demand for hot-rolled coils (HRC) in Turkey has remained subdued this week, mainly due to even slower trade and decreased prices in the cold-rolled and coated steel segments. However, the local HRC mills have managed to avoid discounts for now, but buyers expect these discounts might be provided in January.
For now the domestic offers are at $840-855/mt ex-works, depending on the HRC producer and the lead time. In the meantime, the cold-rolled coil prices locally have decreased by $20-30/mt over the week to $980-1,020/mt ex-works. Domestic HDG offers have weakened too – again by $20-30/mt to $1,100-1,150/mt ex-works base. “The demand is zero, everyone is trying to understand the economy,” a re-roller told SteelOrbis.
In the import segment, negotiations continue for ex-Ukraine HRC with the workable levels being set at $800-810/mt CFR, depending on the coil weight. The supplier is in the market to trade for February production. Previously, the mill was targeting $815-835/mt CFR levels, which was basically in line with the latest deals for January rolling. Ex-India offers are heard at $800-805/mt CFR, $15-20/mt down over the week. Some sources report $790/mt CFR levels and slightly below are achievable from India. In the meantime, Russia-based mills remain out of the market, taking their time to announce offers for February production.