Demand in the local Turkish hot rolled coil (HRC) market is still slow, while spot prices have remained stable over the past week. The weak demand in the local market is attributed to several factors, such as higher inventory levels, fluctuations in the dollar/Turkish lira exchange rate amid strong political tensions in the country, and the lack of liquidity in the market.
On the other hand, some domestic mills, which had not revised their prices last week, have adjusted their offers as expected, with their prices now standing at $560-580/mt ex-works, softening by $10/mt since last week. Although some deals have been concluded in this price range, demand for the mills' offers is still weak.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
2-12 mm HRC | 590-600 | 595-600 |
2-12 mm HRC (for large volume sales) | 580-590 | |
1.5 mm HRS | 620-630 | 625-635 |
3-12 mm HR P&O | 625-630 | 635-640 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.
