A few re-rollers in Turkey, according to sources, have decided to restock with imported HRC, amid firm domestic prices and the strong possibility that they will climb further. As a result, around 80,000 mt of HRC from China are reported to have been sold to Turkey last week, even despite the unclear outcome of the ongoing antidumping investigation.
Despite the sharp rise in import scrap prices seen late last week, Turkey’s local HRC pricing has remained relatively stable at $680-700/mt ex-works for February deliveries and depending on the supplier. Some mills are already voicing $700-710/mt ex-works intentions for March, but it is too early for customers to buy.
In the import segment, as mentioned, large tonnages have been booked from China. According to sources, around half of the tonnage was sold as Q195 material at around $602-603/mt CFR and another part was sold as SAE1006 with some size extras, which makes the evaluated price for the deal at around $615-620/mt CFR. The cargoes are mainly meant to be shipped within January. The new offers are not yet clear, but some sources report they remain at around $605-615/mt CFR for the base grades against the backdrop of the weakening of futures prices today in China.
In addition to China, there have been some indications heard from Russia in the Mediterranean region. The targeted Russian levels to Turkey are reported at around $600/mt CFR or maybe slightly below, while North Africa may agree to deal at $605-620/mt CFR, it is assumed. The volumes are for January production from Russia, which may mean a shorter lead time for buyers compared to China.
