Turkey’s hot rolled coil producers have again increased their domestic and export offers since late last week, trying to reflect the uptend in the import scrap and steel slab segments. Buyers, however, are somewhat skeptical, thinking that demand is lagging behind the price rise.
Over the past week, domestic HRC prices have increased by $20/mt to $430-450/mt ex-works. The product is mainly available for August deliveries, though some volumes can still be sourced for July. Most export prices for July-August shipments have been voiced at $430-440/mt FOB, while the latest deals, to Asia specifically, were closed at $400-405/mt FOB for large cargoes.
Buyers and traders mainly see higher scrap and slab prices as the key reason for a price increase, while the demand situation remains unstable. Deep sea HMS I/II 80:20 prices have hit $260/mt CFR in the most recent deals, while ex-CIS and ex-EU slabs were sold at $370-375/mt CFR last week, as SteelOrbis reported.
