Over the past week, demand in the Turkish hot rolled coil (HRC) spot market has been weaker compared to the previous week, while prices have remained unchanged in the same period. According to market sources, due to the low levels of Ukrainian and Russian flat steel offers to Turkey in the range of $475-490/mt CFR, no one is interested in concluding purchases in the local Turkish market. In their counter-offers, Turkish buyers are seek levels of $440-450/mt CFR from Ukrainian and Russian exporters and state that they are ready to conclude transactions in this price range.
On the other hand, demand received by Turkish producers for their HRC has remained low over the past week. Turkish producers' HRC prices have decreased by $5/mt on the higher end in the same period and are currently in the range of $500-515/mt ex-works, for December and January production. The future trend of the domestic market will become clearer when Turkish producers issue their new list prices in January.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product | Price ($/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.