Demand for domestic producers’ products in the local Turkish hot rolled coil (HRC) market has remained slack during the past week due to the ongoing economic and political uncertainties in Turkey and the approach of the New Year, while Turkish producers have maintained their prices for their domestic market unchanged week on week at $530-540/mt ex-works. According to market sources, no significant changes are expected to be seen in the market before the end of the year, while producers are preparing to increase their prices further with the beginning of the New Year. However, market sources state that any possible prices increases by producers are not expected to gain acceptance due to the sharp strengthening of the US dollar against the Turkish lira.
As for the spot market, buyers are still cautious amid ongoing cash flow problems, while Turkish traders have not changed their prices.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
||
|
Eregli |
Gebze |
|
2-12 mm HRC |
510-520 |
510-530 |
|
1.5 mm HRS |
550-560 |
555-575 |
|
2-12 mm HRC (for large tonnages) |
490-500 |
||
3-12 mm HR P&O |
560-570 |
580-610 |
|