According to market sources, demand in the Turkish hot rolled coil (HRC) spot market has remained slack this week, due to ongoing political and economic uncertainties in the country and due to cash flow problems in the market. Buyers are still postponing their purchases, while prices have remained unchanged over the past week.
On the other hand, demand for domestic producers’ HRC is also slack. Buyers are postponing their purchases due to the downtrend of flat steel prices besides the current problems in the market. Meanwhile, producers’ HRC prices have remained unchanged over the past week at $350-360/mt ex-works for November production. However, Turkish producers are still offering volume discounts of $10/mt and higher, depending on buyer and tonnage.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
390-400 |
395-405 |
1.5 mm HRS |
430-440 |
425-435 |
2-12 mm HRC (for large volume sales) |
|
380-390 |
3-12 mm HR P&O |
450-460 |
465-470 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.