CIS mills are expected to seek increases on their hot rolled coil export offers for April production due to higher scrap prices in the region and reported price rises for exports from Turkey, market participants told MB.

“All scrap suppliers in the CIS are pushing up their prices,” one trader said, adding that colder temperatures have decreased arisings for the raw material.

The source predicted that hot rolled coil prices could rise up to $40 per tonne, in line with increases last week for Turkish merchant bar exports.

Mills are likely to announce their new prices by the end of the week or early next week, sources said.

Prices from Russia and Ukraine are unchanged at $565-585 per tonne fob, up from previous transactions of $530-535 fob for February production, traders told MB.