The Turkish flats market was quieter this week. With the increases in raw material prices especially in the past one month, the local market experienced an active period with price increases observed on a weekly basis. This week, it is heard that local traders have been selling their goods at slightly lower levels due to the weakening of demand. While traders' asking prices for 2 mm HRC were at $770/mt last week, they have recently concluded sales of this specification at the level of $730/mt.
This week, Erdemir has returned to the orders given in its export tender. Erdemir has set its price for HRC at $720/mt FOB for a 20,000 mt allocation and at $800/mt FOB for CRC for a 5,000 mt allocation. It is said that Erdemir may hold a new export tender within ten days. Also, Erdemir held an export tender for 20,000 mt of tin coil/sheets this week.
Erdemir and Isdemir have returned to the orders for their May production; SteelOrbis has heard from market sources that Erdemir's return to the market was below its number of received orders for hot and cold rolled products, whereas Isdemir approved most of its orders for hot rolled products.
On the import side, while last week Russian steelmaker MMK's offers were at $740/mt CFR for HRC and $830/mt CFR for CRC, early this week the producer increased its HRC offers to $755/mt CFR and its CRC offers to $850/mt CFR. ArcelorMittal Romania has also closed its sales for May production after concluding HRC transactions at $780/mt CFR.
In the coming week, Ukrainian producers Zaporizhstal and Ilyich's new price levels will be clarified. The Ukrainian mills are expected to increase their prices for May production. Having concluded deals last month at respective levels of $605/mt FOB and $630/mt FOB, these mills are expected to return to the market with HRC price levels of at least $700/mt FOB.