By the end of the week, domestic HRC prices in Turkey have settled at $1,070-1,100/mt ex-works, up by around $20/mt over a couple of days. Still, some sources say that this week there have been small lots sold to large customers at $1,050-1,060/mt ex-works. It is reported that the Turkish mills are almost sold out for August production and are getting ready to offer firmly for September.
In the export segment, there have been small and medium-sized sales to southern Europe at $1,060-1,070/mt FOB from Turkey, followed by around 50,000 mt in total traded at $1,085/mt FOB. Current official export offers for HRC from Turkish mills are at $1,090-1,100/mt FOB, SteelOrbis has learned. It is worth mentioning that the northern part of the European market is still dominated by Russia’s Severstal, which has recently sold 20,000 mt there at $1,170-1,180/mt FOB Baltic Sea.
Import offers from the CIS have been standing at $1,040-1,050/mt CFR for July shipments. Ukraine’s Metinvest has sold around 15,000 mt at $1,045-1,050/mt CFR Turkey and has withdrawn its offers by the end of the week.