Ukrainian steelmaker Ilyich production prime quality hot rolled coils are being offered to Turkey at $560-565/mt CFR for late October shipments. Meanwhile, the same producer's cold rolled coils are being offered at $650-655/mt CFR Turkey, also for late October shipments. The latest booking concluded for overrolling quality hot rolled coils is at $540-545/mt CFR Turkey. Ilyich material prices, which have increased steadily over the past weeks, may see further increase if Zaporizshtal raises its prices. Zaporizhstal is expected to announce its new prices next week, at the latest. Moreover, according to market rumors, Zaporizhstal is indeed expected to hike its prices.
Russian steelmaker Severstal has not determined a price for hot rolled coils to be shipped in late November. Therefore, the producer has collected bids from the Turkish market this week. Another Russian steelmaker MMK is offering hot rolled coils at $625/mt CFR Turkey for late October shipments. On the other hand, the producer is offering cold rolled coils at $690/mt CFR Turkey, also for late October shipments. HRC and CRC offers indicate increases of $10/mt and $15/mt respectively, as compared to the previous month.
Bulgarian steelmaker Kremikovtzi is offering hot rolled sheets at $640/mt CIF FO Turkey for October shipments. On the other hand, the producer is offering hot rolled coils at $625/mt CIF FO Turkey, also for October shipments.
Following a stable period of about a month as regards hot rolled coils, the market in Egypt has started to show signs of recovery. Latest sales for October/November deliveries were concluded in the range of $620-630/mt FOB base for small tonnages, but currently it seems that buyers in Europe and the Middle East are bidding for Egyptian material at around $620-625/mt FOB, base. The expectancy of the Egyptian producers is for an increase.