Over the past week, demand in the local Turkish hot rolled coil (HRC) spot market has remained weak, while domestic HRC prices have moved sideways. Market players are still experiencing cash flow problems in the spot market and buyers are only concluding deals in line with their needs amid the fluctuations seen in the US dollar-Turkish lira exchange rate.
Meanwhile, Turkish producers’ HRC prices have also remained unchanged in the given period at $310-320/mt ex-works for February production, while demand has been at low levels. Even though Turkish producers have continued to offer volume discounts, depending on buyer and tonnage, their discount margins have declined following the announcement of new dumping margins of 9-13 percent for imported HRC from Russia.
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
340-350 |
345-355 |
1.5 mm HRS |
380-390 |
375-385 |
2-12 mm HRC (for large tonnages) |
|
330-340 |
3-12 mm HR P&O |
380-390 |
395-400 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.