Demand in the Turkish hot rolled coil (HRC) market has remained at medium levels over the past week, while prices have declined by $5/mt on the low end compared to last week. With the gradual approach of the New Year and the sharp declines recorded in raw material and oil prices, the mood in the Turkish HRC market has remained cautious. Traders and buyers in the market have stated that they will maintain a wait-and-see stance until the New Year while keeping a close eye on prices.
On the other hand, demand received by Turkish producers for HRC has been low over the past week. Turkish producers' HRC prices have decreased by $10/mt in the same period and are currently in the range of $540-550/mt ex-works, for December and January production. Buyers believe that this price range will weaken further in the coming days.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
2-12 mm HRC | 575-595 | 580-600 |
2-12 mm HRC (for large volume sales) | 565-585 | |
1.5 mm HRS | 605-625 | 610-630 |
3-12 mm HR P&O | 605-620 | 615-630 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.