Demand for domestic producers’ products in the local Turkish hot rolled coil (HRC) market has remained weak over the past week. As a result of the declines in Chinese HRC prices being reflected in the global market, Turkish producers’ HRC prices have moved down by $20/mt on the lower end and by $10/mt on the upper end, falling to $510-540/mt ex-works.
Following the April 16 referendum, market sources say that the Turkish domestic HRC market is still characterized by economic and political uncertainty, and so demand has remained sluggish in the spot market and buyers have continued to make bookings only to meet their immediate needs. Traders’ prices for HRC in the domestic spot market have remained unchanged compared to a week ago.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
530-550 |
540-570 |
1.5 mm HRS |
570-590 |
585-615 |
2-12 mm HRC (for large tonnages) |
|
520-540 |
3-12 mm HR P&O |
590-600 |
610-640 |