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Turkish HRC prices have remained firm over the past two weeks, with domestic and export markets supported by limited supply and a generally positive market outlook.
Domestic HRC prices remain at USD 625-635 per ton EXW, unchanged from the previous assessment, while export prices have increased to USD 620-630 per ton FOB, compared with USD 615-625 per ton FOB previously.
Most Turkish mills have largely sold out their November allocations and are now offering December production. With order books providing sufficient coverage, mills have little urgency to revise prices downward, while buyers remain cautious at current levels.
Higher raw material costs, particularly scrap, are also supporting steelmakers’ pricing. MESTEEL assessed Turkish HMS 1&2 (80:20) scrap at USD 400 per ton CFR Turkey in its latest assessment.
Import offers were scarce, with China also going on holiday in October. Chinese HRC export offers were largely unchanged at USD 550-560 per ton CFR, while no active offers were heard from Russia or other traditional exporters.