Demand in the local Turkish hot rolled coil (HRC) market has remained at low levels this week. Market sources state that global HRC prices are still falling, while this is interpreted as a signal that domestic HRC quotations will decrease further, causing buyers to postpone their HRC purchases. Meanwhile, Turkish steel producers have kept their domestic HRC offers stable over the past week at $490-510/mt ex-works.
On the other hand, traders are unwilling to reduce their domestic HRC offers given the high-priced products in their inventories. As a result, HRC spot prices in Turkey have remained stable week on week.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
2-12 mm HRC | 520-540 | 530-560 |
1.5 mm HRS | 560-580 | 575-605 |
2-12 mm HRC (for large tonnages) | 510-530 | |
3-12 mm HR P&O | 580-590 | 600-630 |