Demand in the local Turkish hot rolled coil (HRC) spot market is quite sluggish this week, with prices indicating no changes since last week, while no signs of recovery are expected in demand until the end of March. Current political tension in the country continues to impact the dollar/Turkish lira exchange rate, while both buyers and sellers in the HRC spot market are hesitating to conclude new deals. In addition, high inventory levels and lack of liquidity in the market have continued to influence demand negatively.
On the other hand, domestic mills’ prices are unchanged at $560-580/mt ex-works. Sharp and sudden declines in iron ore prices have started to put pressure on HRC producers, but the mills are determined to keep their prices firm since any reductions in HRC prices would not help to boost demand and as their HRC materials are partly produced from scrap.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
| Product | Price ($/mt) | |
| Eregli | Gebze | |
| 2-12 mm HRC | 590-600 | 595-600 |
| 2-12 mm HRC (for large volume sales) |
| 580-590 |
| 1.5 mm HRS | 620-630 | 625-635 |
| 3-12 mm HR P&O | 625-630 | 635-640 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.