Turkey’s hot rolled coil (HRC) producers have been voicing slightly higher offers lately, particularly for the domestic market. The recent rebound in the import scrap segment is one reason, while in addition the earlier performed active export sales of HRC from Turkey have also supported mills’ bullish stance. The import HRC segment has also been quiet and non-aggressive in terms of offers and sales, which also helps Turkish producers avoid discounts. However, despite the mentioned supportive factors, demand for HRC is still not sufficient enough for prices to rise significantly.
Currently, domestic HRC prices in Turkey are mainly voiced at $720-730/mt ex-works, up $10-20/mt over the past week. The higher end of $725-730/mt ex-works is valid for April production and deliveries, while some stockists have reported $700-710/mt ex-works/CPT Marmara may still be available in some cases for March. “We are selling but not in big quantities, doing small business,” a producer told SteelOrbis. As regards exports, the most recent HRC offers for April shipments are still at around $690-710/mt FOB.
Import offers from China have continued hovering in a narrow range and the material is now available at $605-610/mt CFR for Q195 material of 3 mm and higher, with no fresh sales reported. Ex-India offers are mainly reported at $650-655 CFR, although some suppliers may agree to sell $5-10/mt lower, according to the size of the order.
In the coated steel segment, domestic 0.5 mm Z100 hot dip galvanized (HDG) offers have been reported at $910-950/mt ex-works, although the workable levels are evaluated at down to $880-890/mt ex-works. “The official offers are not working and the demand is rather low,” a re-roller told SteelOrbis. Local PPGI prices are at $1,010-1,050/mt ex-works currently for base material, while trading activity is still quite low.