HRC prices rise on stronger market outlook

Turkish HRC prices increased this week, as an upward trend in scrap prices and limited supply pushed local HRC producers to raise prices.

Domestic HRC prices moved up to USD 625-635 per ton EXW, up USD 20-25 per ton from last month’s levels, with most mills now offering material for November delivery.

Export offers also increased by USD 10-15 per ton to USD 615-625 per ton FOB.

Market insiders said higher HRC prices in the EU are creating optimism over export demand, supporting the price increases. Firm demand for cold-rolled, coated and painted products in both domestic and overseas markets is also providing support.

In the import segment, Chinese HRC offers were heard at USD 550-560 per ton CFR Turkey.