Over the past week, purchases in the local Turkish hot rolled coil (HRC) market have almost been completed, and so trading activity in the market has slowed down with buyers adopting a wait-and-see stance. In the same period, domestic producers’ local HRC prices have remained unchanged, while Turkish steel mills’ order books are fairly full. Quotations in the local Turkish HRC market are expected to maintain their upward movement if the rises seen in global raw material and flat steel markets continue in the coming days. Although Turkish producers’ domestic hot rolled coil (HRC) prices are currently in the range of $510-530/mt ex-works, market sources report that they are targeting levels of $530-550/mt ex-works for October output.
Meanwhile, demand in the local Turkish HRC spot market has also declined, while traders’ spot HRC prices have remained stable during the past week. If Turkish steel producers’ domestic HRC quotations rise, the increase is expected to be reflected in prices in the spot market.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
550-570 |
560-590 |
|
1.5 mm HRS |
590-610 |
605-635 |
|
2-12 mm HRC (for large tonnages) |
|
540-560 |
|
3-12 mm HR P&O |
610-620 |
630-660 |