Turkish re-rollers, while facing rather slow business activity locally, have still been attempting to raise their prices, mainly due to higher HRC offers from local and overseas suppliers, as well as the uncertainty and concerns in the market linked to the outbreak of war in the Middle East. Buyers, however, are slow to react as they also have fears in terms of restocking with regular volumes amid the unclear outlook.
In the local HDG segment, many Turkish producers are offering at $780-785/mt ex-works base officially, while earlier such indications were considered rare and on the high side. However, some sellers still consider $760-775/mt ex-works a possible workable level for serious orders. As regards exports, offer levels are at $700-730/mt FOB and up to $750/mt FOB from some suppliers, while last week $690-710/mt FOB levels were reachable. Still, some sources believe the old levels are still possible to achieve, though they are no longer widespread.
Turkey’s domestic PPGI is still offered at $860-880/mt ex-works, but some re-rollers have started voicing $900-910/mt ex-works as well. For export, some suppliers have started to offer at $860-880/mt FOB, but it seems few re-rollers may still consent to sell at $840-850/mt FOB.
In the CRC segment, offers are at $660-690/mt ex-works depending on the mill and its order book, while last week offer levels stood at $650-670/mt ex-works. CRC export indications are at $650-660/mt FOB, at $655/mt FOB on average, up $5/mt over the past week.
