Hot rolled coil (HRC) producers in Turkey continue to keep their prices quite high and refuse to provide sizeable discounts. The key reason is the lack of plentiful allocation for October in the market, resulting from the earlier export and domestic sales and scheduled maintenance works for September. In addition, import offerings are still basically represented by China only. Another supportive factor is the cautious uptrend in the EU, which gives mills hope for livelier export trade. Similar trends and sentiments are observed in the coated and CR steel segments of the Turkish flats market.
According to domestic market players, most realistic local HRC offers in Turkey are at $660-680/mt ex-works, while the previous round of sales was closed at $650-660/mt ex-works, as SteelOrbis reported. However, some customers reported they have received $700-710/mt ex-works this week from some producers, most probably for earlier delivery terms. Import HRC offers in Turkey are at $570-575/mt CFR from China for HRC of Q195 grade of 3 mm and higher, down $10/mt over the past week. Some sources have reported $570/mt CFR for ex-Russia HRC, with no interest reported.
Along with the relatively stable HRC prices, local prices for coated and cold rolled (CR) steel have also been fluctuating in a rather narrow range. Some attempts have been made to raise official HDG prices to $850-860/mt ex-works base, but $20-30/mt discounts are still applicable. As a result, the workable levels are estimated at around $820-840/mt ex-works depending on the delivery term. Local PPGI prices are at $935-960/mt ex-works officially, sources report, stable over the past week, while slightly higher targets are also voiced in the market.
In the CRC market, domestic offers are at $750-785/mt ex-works, while once again $20-30/mt discounts are applicable.
