Demand for domestic producers' products in the local Turkish hot rolled coil (HRC) market has remained at low levels over the past week. Demand has failed to improve given the declines in global flat steel prices and also due to the ongoing economic and political uncertainties in Turkey. During the past week, local producers in the country have reduced their HRC prices by $20/mt on the upper end to $510-520/mt ex-works.
Meanwhile, the declines recorded in Turkish producers' HRC prices over the previous weeks have been reflected in the spot domestic market, with local traders' HRC prices moving down by $10/mt during the past week.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product | Price ($/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 |