Market sources state that hot rolled coil (HRC) prices have remained unchanged in Turkish market since last week, while demand has increased slightly. Buyers' interest in completing their purchases before Ramadan (starts end of June) is the biggest reason behind the rise in demand. Market sources report that the tightness observed in availability of HRC and hot rolled pickled and oiled coil has started to ease but still exists. Tightness in availability of hot rolled pickled and oiled coil may surface fairly rapidly if there are any delays in deliveries, market sources say.
Producers' prices in the Turkish HRC market have also remained unchanged, while producers have almost filled their order books for July. Since the March 30 municipal elections, demand has been increasing in the Turkish HRC market, to the satisfaction of producers, but this improved demand has had no impact on producers' prices as their prices are very close to spot market prices and also due to expectations of further downward movement in iron ore prices.
Producers' prices in the Turkish HRC market are in the range of $590-605/mt, while discounts of $5-10/mt are available to certain buyers and depending on tonnages.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
600-610 |
605-615 |
2-12 mm HRC (for large volume sales) |
590-600 |
|
1.5 mm HRS |
630-640 |
635-645 |
3-12 mm HR P&O |
635-640 |
645-650 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.