Some hot-rolled coil producers closed their orderbooks for June production during the week ending Friday March 5 and have started to offer product in Turkey for July production at higher prices, sources told Fastmarkets.
Russia, one of the main import sources for HRC to Turkey, sold two cargoes during the week and stopped accepting new orders.
The offer prices from Ukraine and China were also high, leading most market participants to believe flat steel prices will keep increasing in the coming weeks.
Domestic prices
Fastmarkets' weekly price assessment for
steel hot-rolled coil, domestic, exw Turkey was $820-850 per tonne on Friday, rising from $770-790 per tonne on February 26.
Turkish HRC producers sold HRC at $820-830 per tonne ex-works for June production at the beginning of the week.
Later, deals were made...