Re-rollers in Turkey have increased their domestic prices by up to $20-40/mt over the past week depending on the product and the supplier, citing increased demand and also limited supply due to the impact of the recent earthquakes on output and demand in the Iskenderun region. In addition, there are concerns regarding the sufficiency of the hot rolled coil (HRC) supply in the market in the coming months, given producers’ problems in the Iskenderun area and increased demand from flats consuming sectors in Turkey. In addition, the availability of import HRC with short delivery periods is rather limited, except for Egypt, which has sold large lots to Turkey recently, and Russia, which has the potential to ship in April.
Over the past week, Turkey’s domestic HDG base prices increased by $20-30/mt to $1,110-1,140/mt ex-works, while PPGI offers added $20-40/mt to $1,300-1,340/mt ex-works base. “There is a lack of material in Turkey nowadays, and demand is high. Re-rollers are selling for production in the the second half of April and May,” a trading source commented.
In the cold-rolled coil (CRC) segment, the current 1 mm offers are standing at $970-980/mt ex-works at the lowest, up by $10-30/mt over the week. Some of the suppliers, according to sources, are aiming at $1,000-1,010/mt ex-works. As for imports, there has been information that China has recently traded some volumes of full hard material at $750/mt CFR, while Russia in the market to sell commercial grades at $840/mt FOB or around $865/mt CFR, SteelOrbis estimates.