Generally positive flat steel market sentiment, fuelled by stronger scrap prices and firm prices in China, has resulted in a price increase for import hot rolled coil (HRC) in Turkey over the past week. Moreover, the price rise has already been accepted in deals for small lots. However, generally, mills are not in a rush to boost sales and prefer to evaluate the market.
Russia’s MMK has traded some medium-sized lots this week at $750/mt CFR, up $10/mt from the pre-holiday offer level. Currently, the supplier is aiming to sell at $760/mt CFR and above, SteelOrbis understands. In its turn, NLMK, according to sources, has increased the price by $15/mt since late last week to $765/mt CFR. Some batches have been sold at this level, but once again the supplier has been taking it slowly. Ukraine’s Metinvest, according to some buyers, is said to be offering around $750-760/mt CFR depending on coil weight, while late last week the company’s small coils were priced at $730/mt CFR.
Local HRC prices in Turkey are mainly at $780-790/mt ex-works in the official offers, up $10/mt since earlier this week. The material is available for end-of-May and early June deliveries.
