Some domestic hot rolled coil (HRC) producers in Turkey have reportedly been ready to sell at a significant discount this week, under pressure from low demand and insufficient exports. In the meantime, some producers have continued to maintain higher prices, though in official offers only.
According to sources, some local HRC suppliers in Turkey are in negotiations with some customers to sell at $850/mt ex-works, while some market players report even $840/mt ex-works levels being on the table. One mill decreased its official offer by $10/mt to $870/mt ex-works, while another supplier is still at $880/mt ex-works, being fully sold out for October production. Generally, it is believed that prices in the domestic market will settle at $840-860/mt ex-works soon, while last week the general range was at $880-890/mt ex-works.
Similar discounts are being provided for the export markets, specifically for the EU and Latin America. The prices have been reported at $860-880/mt FOB this week, versus $880-900/mt FOB in late September.
