Turkish hot rolled coil (HRC) producers have started to voice prices $20-30/mt higher for the domestic market. Not only are higher scrap prices the reason for the bullish mood, but also the fact that decent demand has been seen as the market mood is generally firm.
According to sources, Turkish mills have succeeded in selling some decent amounts of HRC domestically within $800-810/mt ex-works base since the end of last week, while their offers stood at $800-820/mt ex-works at the time. Following these sales, the producers have started to voice indications at $820-840/mt ex-works and even up to $850/mt ex-works, SteelOrbis has learned. Market players assume that buying activity is currently quite high in the flats market, mainly owing to the effects of the recent earthquakes on the steel markets. Various companies have been reporting about the additional demand they have started to receive, specifically for the construction of container houses. Some market players report there are not many sales from service centers and traders to end-users nowadays, but they themselves are restocking bit by bit in order not to be empty-handed.
In the import segment, there have been deals for a large volume of HRC from China at $690/mt CFR. The current offer level for Q195 quality varies within the range of $690-710/mt CFR, SteelOrbis has learned. Russia has sold at $730/mt CFR and slightly above for non-sanctioned material at the latest, while currently there are no offers.
