HRC pricing in Turkey has remained firm over the past week, with some suppliers aiming at slightly higher levels compared to a week ago. However, trading activity, though seen in both the local and import segments, still lacks strength, especially for domestic supplies, and so the price trend remains mainly based on war-related expectations.
The latest official HRC prices in the domestic market in Turkey are at $630-640/mt ex-works base for June deliveries, up $10/mt over the week. However, $620/mt ex-works is considered workable by some mills, while buyers evaluate the market at not higher than $600-615/mt ex-works depending on the tonnage. Sources state that the large buyers booked their cargoes at $590-595/mt ex-works earlier and are not in such a rush to accept new levels. Currently, mainly smaller and medium buyers are in the picture but are acting cautiously in view of the shaky market situation and outlook. As for exports, Turkish mills are offering at around $615-620/mt FOB and up to $630/mt FOB, for June shipments. In the EU, the latest offers have been reported at €575-580/mt CFR with no extras and at €620-640/mt CFR duty paid, SteelOrbis has learned.
Import offers from China are mainly at $535-545/mt CFR for May shipments, relatively stable over the past week. At least one 50,000 mt HRC lot was booked last week on FOB basis, while the CFR price for the sale was estimated at $538/mt CFR. Ex-Malaysia material has been on offer at $610-615/mt CFR for May-June shipments, while Egypt has preferred to stay out of the picture. Some sources reported the Egyptian producer has been facing some production issues. Russian sanctioned material has increased in price from $490-495/mt to $505-515/mt CFR depending on the tonnage, marking the lowest offer level in the Turkish market. The latest deals for the non-sanctioned material from Russia have been reported by buyers at $540-545/mt CFR, while some reported small deals at $10/mt higher.
