At present, scrap iron prices and electricity prices continue to rise, so Turkish mills' production costs are also increasing. For this reason, Turkish mills purchased 150,000 tons of hot-rolled coil(HRC) from China, and the dealt price was even lower than the production cost. In addition, some production lines of European mills have been scheduled for maintenance since September/2022, so reduction of output caused available inventory in the spot market dropped. Large-scale mills in northern Europe have led to raise prices with good condition of orders, and current production schedule entered March delivery. According to statistics, the HRC price from European mills this week has a weekly increase of US$20/MT.