Domestic HRC offers in Turkey have been set above $800/mt ex-works this week as producers are finishing the year on a positive note. Most of them are in the market to sell for April deliveries and some are offering even longer lead times. In addition, local buyers are active and raw material prices globally are rather strong.
The lowest offers heard in the market for HRC this week are at $805-810/mt ex-works, up by around $5-10/mt over the past week. Some producers have been voicing $820/mt ex-works, SteelOrbis has learned. “The year is over and they [mills] are not in a rush now and no one is under pressure to sell,” a source said. Demand from re-rollers and pipe makers has declined somewhat, mainly as most of them restocked earlier and their own steel sales traditionally weaken by the end of the year. However, most market players share positive expectations regarding business in January.
In the import segment, CIS-based mills have been barely offering as most of them have decided to take a pause until after the holidays. The latest indication from Ukraine has been reported by buyers at $770/mt CFR for small coils. Some 10,000-15,000 mt of HRC from Russia have been sold at around $465/mt CFR last week, SteelOrbis understands. However, the information has not been confirmed by the time of publication.