Ukrainian steelmaker Ilyich production HRC is being offered at the level of $760/mt CFR Turkey for late March shipments. As previously reported by SteelOrbis, bookings are heard rarely. The price rise expectations of sellers who have taken position have been resulting in a shortage of material in the market. Meanwhile, another Ukrainian steelmaker, Zaporizhstal, has not made any price announcement this week.
Russian steelmaker Severstal production HRC is being offered at the level of $845/mt CFR Turkey, whereas the producer's CRC is being offered at the level of $905/mt CFR Turkey. In last month's offers, big and small HRC sizes were offered at $760/mt and $735/mt CFR Turkey respectively, while offers for CRC stood at $790/mt CFR Turkey. Meanwhile, another Russian steelmaker, Magnitogorsk Iron & Steel Works (MMK), has not made any price announcement this week.
Bulgarian steelmaker Kremikovtzi production HRC is being offered for export to Turkey in a range of $550-560/mt FOB for March shipments. However, the problems experienced by the producer have been intensifying, thus resulting in some disturbance for customers.
Romanian steelmaker Mittal Galati production CRC is being offered at a base price of $905/mt CFR Turkey (The base price in question is subject to ArcelorMittal extras). However, no official announcement has been made for HRC.
Although Turkish steelmaker Erdemir this week raised its plate and galvanized product prices by $45-55/mt and its hot rolled products by $65/mt, market players expect another price hike within the current month.
Russian and Ukrainian producers' prices, which are expected to be announced next week, will clarify the situation with the Turkish market. Though the expectation is that the prices will rise significantly, the extent of the hike is not known. As regards the levels in the local Turkish market, it has been observed that the prices in question have been unable to follow the rise in the imported material. In addition, looking at the European and Middle East markets, it is estimated that the prices for flats will move on an uptrend in the first quarter and will remain strong in the second quarter as well.