Demand in the local Turkish hot rolled coil (HRC) spot market has remained at medium levels over the past week, while domestic HRC prices have remained unchanged. Market sources state that large volumes of cheaper ex-Chinese HRC which were booked in September will be arriving in the market especially at the end of October and may put pressure on prices in the local Turkish spot market.
Meanwhile, Turkish HRC producers have been receiving weaker demand over the past two weeks, while their prices have continued to trend in the range of $590-605/mt ex-works and discount margins are still at $15/mt depending on buyers and on tonnages.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
2-12 mm HRC | 610-620 | 615-625 |
2-12 mm HRC (for large volume sales) | 600-610 | |
1.5 mm HRS | 640-650 | 645-655 |
3-12 mm HR P&O | 650-660 | 660-670 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.