Demand for domestic producers’ products in the local Turkish hot rolled coil (HRC) market is still at medium levels this week. Last week, SteelOrbis reported that Turkish steel producers had increased their HRC prices due to rising production costs amid the ongoing upward trend of raw material prices in the global markets. This week, Turkish HRC producers have increased their prices further week on week since the uptrend of raw material prices has continued with the support of increases in the Chinese futures market, led by the rises recorded in coking coal futures prices. Accordingly, Turkish HRC producers have increased their offers for their domestic market by $20/mt on average week on week to $460-480/mt ex-works.
Additionally, demand in the Turkish HRC spot market is also at medium levels, while traders in the Turkish domestic HRC spot market have increased their prices by $20/mt over the past week as a result of the rises in producers’ prices.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
| Product | Price ($/mt) |
|
|
| Eregli | Gebze |
| 2-12 mm HRC | 480-490 | 480-500 |
| 1.5 mm HRS | 520-530 | 525-545 |
| 2-12 mm HRC (for large tonnages) | 460-470 | |
| 3-12 mm HR P&O | 530-540 | 550-580 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.