Turkish hot rolled coil (HRC) producers, being sold out for part of February production, have attempted another increase in prices.
The price rally in Turkey’s HRC market continues. In the local market, offers for February deliveries have hit $490-500/mt ex-works from some mills, though levels of $480/mt ex-works and below are still considered reachable for sizeable orders. Sources report that some deals were closed at $460-470/mt ex-works for some 5,000-8,000 mt lots, while big buyers are currently negotiating. For the second half of February, local prices are mainly ranging at $450-470/mt ex-works, as reported earlier.
In exports, various offers are heard, but the majority of sources agree that currently Turkish offers are standing at $475-490/mt FOB depending on the seller with $5/mt considered discounts possible. No fresh deals, however, have been heard so far. In the meantime, some sizeable increase in local HRC prices are expected in Italy. According to sources, some mills are targeting €440-450/mt ex-works for February, while others are expected to move on similar levels.
In the import segment, Russia’s NLMK, according to some sources, has been voicing $450-460/mt CFR targets for February production. MMK is currently out of the market, being overbooked for January. In addition, the supplier will be undergoing massive repairs at its hot rolling lines. Ukraine’s Metinvest is expected to target $440-450/mt CFR Turkey in the upcoming sales round, SteelOrbis has learned.
