Over the past week, demand in the Turkish domestic hot rolled coil (HRC) spot market has remained weak, while prices have moved sideways. Buyers in the market have stated that they will maintain a wait-and-see stance until the New Year due to their perception that HRC prices will fall.
Meanwhile, demand received by Turkish producers for their HRC is still on the weak side. Turkish producers' HRC prices have also remained unchanged over the past week and are still in the range of $530-540/mt ex-works, for December and January production. Amid lower Russian and Ukrainian HRC offers to Turkey, Turkish buyers are reported to be reluctant to accept local sellers' offers.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
2-12 mm HRC | 560-580 | 565-585 |
2-12 mm HRC (for large volume sales) | 550-570 | |
1.5 mm HRS | 590-610 | 595-615 |
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.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.