Turkish hot-rolled coil (HRC) producers have remained under pressure from slow sales, low bids and the generally pessimistic sentiment in the market, both locally and abroad. As a result, export and domestic HRC prices in Turkey have decreased by the end of the week, reflecting the market mood. Still, business activity seems to have failed to improve, at least for now.
In the domestic market, producers’ official offers are mainly at $1,000/mt ex-works base for July deliveries, and one seller is targeting $1,010/mt ex-works, similar to earlier this week. However, most buyers and some suppliers agree that $950/mt ex-works may be achievable at present in the case of firm and sizable inquiries.
In the export segment, most offers are standing at around $950-980/mt FOB depending on the targeted sales market, $20-50/mt down over the past week. However, some sources believe $900-930/mt FOB may be accepted by certain sellers, specifically in transactions to the EU.
