Turkish HRC suppliers keep cutting local and export prices, trying to accelerate sales

Turkey’s domestic and export HRC prices are still under pressure in mid-September, resulting in another $10-20/mt decline over the past week.

Local HRC prices in Turkey have dropped by $15/mt on average to $450/mt ex-works recently, SteelOrbis has learned. There have been reports of some bookings by pipe makers and re-rollers, but most big customers are still voicing bid prices close to $440/mt ex-works.

Turkish suppliers have been actively trying to attract foreign customers, seeing weak demand domestically. Export offer prices have been at $450/mt FOB, $10-20/mt below the offer level announced for November shipments last week. Moreover, sources have been reporting that mills can negotiate at $435-440/mt FOB, if there are firm bids. Negotiations with European buyers are ongoing.