Steel markets are worried as HRC prices increased in Turkey and the global markets

Factory prices in Turkey's hot rolled coil, cold rolled coil and galvanized sheet products also increased in the spot market. Although the major sheet metal producers in the region were not actually affected by the earthquakes in Kahramanmaraş, which affected 10 of our provinces, they stopped production due to the painful destruction experienced in their personnel and nearby. While the material shortage, which has been going on for about a few months, continued, the cessation of production also triggered price increases.

Production decreased in Turkey, supply shortage increased

According to the assessment made by the sheet metal traders, they stated that they entered a difficult period in finding and supplying goods due to the cessation of production in the Payas region. It was stated that an Izmir-based producer had announced the April-May delivery prices as $820. HRC prices were heard as $860 in the spot (ex-warehouse-trader figure) market the other day. Some of the major producers are predicting another $50 rise next week. While CRC prices were in the range of $960-970 in the spot market, galvanized sheet prices were in the range of $1000-1100. The intense need for containers in the earthquake region also affected the situation. High demand is thought to increase galvanized and PPGI prices due to limited supply.

HRC prices are increasing in global markets

Sheet metal markets are dynamic, not only in Turkey but also in the world. US domestic hot rolled coil (HRC) spot prices have also increased this week as mills continue to raise their steel price offers. In the US local market, it was heard that offers of $850 with an increase of $50/st were heard.

Bids were reported in a broad range of $780-900/hr, with most in the clearer range of $820-850/hr.

US cold rolled coil (CRC) and galvanized sheet also took their share from this rise. It is also said that there are prices between +50-100$ in both prices, which are in the 1,000$ band.

While the delivery times for cold rolled sheet were increased from 7-8 weeks to 8 weeks, galvanized sheet delivery times were increased from 5-8 weeks to 6-8 weeks.

It took its share in this rise in the futures exchanges

The CME HRC futures market has risen sharply over the past week. April prices rose $65 to $875, while May prices rose $74 to $870.