Turkish hot rolled coil (HRC) producers have started testing the market with offers at $680/mt ex-works this week, up by $10-20/mt from the previous offers. Sources say some deals have been closed at $650-660/mt ex-works and that mills are in the market to sell for March production.
The higher local prices in Turkey have urged foreign HRC suppliers to further increase their offers. According to sources, Ukraine’s Metinvest is in the market with $650/mt CFR for small coils and $660/mt CFR for big coils, up by around $20/mt since early last week. In the meantime, Russia’s MMK has increased its prices by $10/mt over the past week to $650/mt CFR. Some buyers report that they received offers at $655/mt CFR from the producer. NLMK, according to market information, has sold some lots at $640-645/mt CFR and is evaluating new offers nowadays. Generally, the CIS-based HRC exporters are in the market to sell for February-March shipments.
In addition, China has restarted offering to Turkey due to high pricing. The levels for ex-China premium quality have been reported at $670/mt CFR.