Last week, SteelOrbis reported that Turkish steel producers had increased their hot rolled coil (HRC) prices due to the upward trend of scrap and iron ore prices in the global markets, but that the new domestic HRC price levels had failed to gain acceptance. This week, demand from Turkish buyers for domestic producers’ HRC products has improved slightly on the back of predictions of a further rise in producers’ prices amid the ongoing uptrend in the global raw material markets, and so demand for domestic producers’ products is currently at medium levels. Accordingly, Turkish HRC producers have increased their offers for their domestic market by $15/mt week on week to $445-455/mt ex-works, amid higher demand and also given the support from their steady sales at increased prices to the export markets.
Additionally, demand in the Turkish HRC spot market has also recovered slightly over the past week and is now at medium levels. As a result of the increased demand and the upward trend of producers’ prices, traders in the Turkish domestic HRC spot market have increased their prices by $10/mt in the same period.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
| Product | Price ($/mt) |
|
|
| Eregli | Gebze |
| 2-12 mm HRC | 460-470 | 460-480 |
| 1.5 mm HRS | 500-510 | 505-525 |
| 2-12 mm HRC (for large tonnages) | 440-450 | |
| 3-12 mm HR P&O | 510-520 | 530-560 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.