Although in the current week buyers in the local Turkish hot rolled coil (HRC) market have mostly completed their purchases, leading to a slowdown in the revival of demand, domestic HRC prices of both buyers and traders have started to move up again. Turkish HRC producers have increased their domestic prices this week by $10/mt on the upper end to $540-560/mt ex-works amid their accelerated export sales and also due to the ongoing upward movement of raw material costs.
In the local Turkish HRC spot market, it is observed that availability problems continue for some products, while traders have increased their domestic HRC offers by $10/mt in parallel with the rises seen in producers' quotations. Market sources report that HRC bought at high prices will soon enter traders' inventories and so traders will continue to raise their HRC offer prices despite the weakness of demand.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
2-12 mm HRC | 560-570 | 570-590 |
1.5 mm HRS | 600-610 | 615-635 |
2-12 mm HRC (for large tonnages) | 550-560 | |
3-12 mm HR P&O | 610-620 | 630-660 |