Over the past week, Turkish producers have maintained their hot rolled coil (HRC) offers for their domestic market unchanged, preferring to observe the global markets given the sharp fluctuations in the Chinese futures market and global iron ore prices. Accordingly, Turkish producers’ HRC prices are still at $520-530/mt ex-works. Meanwhile, buyers of Turkish producers’ HRC products also prefer to watch the market and are still unwilling to conclude HRC deals for February shipments, resulting in weak demand.
As for the spot market, buyers are still cautious and are making purchases only to meet their immediate needs due to the ongoing economic and political uncertainties in the country. Traders are offering slight discounts and are adopting a flexible policy in terms of discounts instead of decreasing their offers, though their discounts have not had any impact yet in terms of accelerating the demand in the market.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
| Product | Price ($/mt) | ||
|
| Eregli | Gebze | |
| 2-12 mm HRC | 510-520 | 510-530 | |
| 1.5 mm HRS | 550-560 | 555-575 | |
| 2-12 mm HRC (for large tonnages) | 490-500 | ||
| 3-12 mm HR P&O | 560-570 | 580-610 | |