Local producers in the Turkish hot rolled coil (HRC) market have kept their domestic offer prices unchanged week on week at $400-430/mt ex-works. Although buyers have stepped up their price inquiries somewhat, market sources state that buyers are still making HRC purchases only to meet their immediate needs. As a result, demand for Turkish producers' hot rolled coil (HRC) products in their domestic market has remained sluggish in the past week. Meanwhile, buyers in Turkey are still cautious about concluding new bookings and so trading activity for local producers' products in the domestic market has not met players' expectations. Market sources are expecting a slight improvement in demand after the Feast of Sacrifice holiday.
Meanwhile, demand in the local Turkish HRC spot market has failed to improve during the past week and is still at low levels with traders keeping their HRC offers stable.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product | Price ($/mt) |
|
| Eregli | Gebze |
2-12 mm HRC | 440-460 | 450-470 |
1.5 mm HRS | 480-500 | 495-515 |
2-12 mm HRC (for large tonnages) | 420-430 | |
3-12 mm HR P&O | 480-500 | 500-530 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.