No significant change has been seen in Turkey’s HRC market in terms of local and export prices during the past week. Domestic demand has remained moderate, supporting mills in avoiding discounts, with the mills also supported by another slight increase in import scrap prices in the current week. In addition, in the import segment, basically only China has been active with prices set at a rather high level, while Russia, Malaysia and Egypt are mainly out of the picture for now.
Local HRC base prices in Turkey are officially at $635-660/mt ex-works with some higher indications reported as well, while the realistic levels assessed by market players are at $630-655/mt ex-works. Sources also assume that one of the mills might go lower in terms of HRC base prices for lots including size and grade extras. HRC export prices from Turkey are also stable, at around $630-645/mt FOB depending on the mill. Turkish HRC is offered for July deliveries in the domestic market and for July shipments for export.
HRC import offers from China via traders from second-tier mills have mainly been at $560-570/mt CFR this week for shipments in late June and early July. Most of the regular buyers do not seem very interested due to the long lead time and the uncertainty in the market. No fresh offers from Egypt and Malaysia have been reported this week either. The regular Russian non-sanctioned HRC seller is also taking its time to offer for July shipment, evaluating its allocation for the next sales round. One of the sanctioned mills from Russia has offered $560/mt CFR to the MENA region and Turkey for a limited volume for July shipment, up from the latest deals for June closed at $530-535/mt CFR, SteelOrbis has learned.
