Turkish hot rolled coil (HRC) producers are trying to increase their prices for the local and export markets, saying that they are pretty much sold out until the end of the year. In addition, import scrap prices in Turkey have been strengthening, providing support for their HRC prices from the cost side. However, in reality demand for HRC remains limited.
Currently, domestic prices for HRC in Turkey are back to $420-425/mt ex-works, but for January deliveries. The latest deals to large customers have been reported at around $405/mt ex-works and as high as $410/mt ex-works. On exports, traders report they have received offers from Turkish mills at $415-420/mt FOB for end-December production. However, some mills are reportedly still ready to sell at lower levels depending on their available allocation. “I think most of them can still give some 10,000-15,000 mt lots for December, at least in order to later on catch higher prices for prompt shipments,” one trader believes.
