Following a longish holiday, the market situation for HRC in Turkey has remained quite stable. Local mills have chosen to maintain last week’s offers , trying to see a clearer market picture. Import offers from China have also remained relatively stable since there has been no significant movement on the futures side.
Turkey’s domestic HRC prices have remained stable at $550-565/mt ex-works base for July-August deliveries, while $545/mt CFR Marmara is also heard in the market. In the meantime, export offers have remained officially at $540-545/mt FOB for August shipments, although it seems that some July volumes may still be allocated. The level of $535/mt FOB is also considered workable for the decent volumes for export, but buyers’ price ideas are closer to $525-530/mt FOB base.
In the import segment, Chinese offers for Q195 HRC of 3 mm and higher for end-of-July and August shipments are considered relatively stable. Most offers are heard at $468-473/mt CFR, with some of the indications reported at $477-478/mt CFR. “The market needs to settle after the holiday before people start negotiations for some serious purchases. For now, it seems like no one is in much rush,” a market source told SteelOrbis.
Russia seems to be out of the market with the latest deals closed at around $480/mt CFR and above for non-sanctioned material. In the meantime, Egypt is offering at $550/mt CFR for July and August shipments, down $2/mt from the official offers before the holiday.