This week, buyers in the local Turkish hot rolled coil (HRC) market have continued to exert downward pressure on local producers’ domestic market prices, after several CIS-based HRC bookings were concluded to Turkey at $510-515/mt CFR. However, Turkish mills have maintained their prices unchanged at $540-570/mt ex-works week on week, resisting the pressure on their prices in the domestic market since they are pleased with the level of demand for their products in the export markets.
Meanwhile, demand in the local Turkish HRC spot market is still weak due to the fluctuation of the Turkish lira-US dollar exchange rate and due to the economic and political uncertainties and the ongoing cash flow problems in Turkey. Buyers continue to conclude bookings for domestic HRC only to meet their immediate needs, while continuing to maintain a wait-and-see stance. As a result, traders’ HRC and HR pickled and oiled coil prices have remained unchanged week on 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: