Domestic hot rolled coil (HRC) prices in Turkey have remained stable over the past week at $520-540/mt ex-works. It is observed that Turkish buyers have started to exert pressure on domestic HRC prices with their firm bids at $500-515/mt ex-works, following the lower import HRC quotations offered to Turkey.
Although market sources report deals concluded in the local Turkish HRC market at $500-510/mt ex-works in the current week, SteelOrbis has not received confirmation for this price range.
Market sources state that there are strng expectations that Chinese suppliers will focus on exports once again due to lower domestic finished steel demand in China. Also taking into account the approach of Ramadan and of the summer season, demand in the local Turkish HRC market is expected to remain weak in the short term.
As for the spot market, prices of traders have remained stable despite the ongoing weakness of demand as there are shortages for some grades and dimensions.
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
550-560 |
560-570 |
1.5 mm HRS |
590-600 |
595-625 |
2-12 mm HRC (for large tonnages) |
540-550 |
|
3-12 mm HR P&O |
580-590 |
620-630 |