Over the past week, demand in the local Turkish hot rolled coil (HRC) market has remained weak and prices have remained unchanged week on week. Buyers have been concluding deals only to meet their immediate needs as they are waiting to gain a clearer picture of the HRC price trend in the global market after Chinese market players return from their holidays and after the final results of the ongoing antidumping investigation in Europe against HRC imports from Brazil, Russia, Ukraine and Iran are announced tomorrow, October 6. Market sources think that the rumors in the market in late September regarding the likelihood of definitive antidumping duties on imports from the given countries will be proved true, which will provide support for Turkish HRC exports, and domestic HRC prices in Turkey would increase accordingly. For now, prices in the local Turkish HRC market are still at $620-640/mt ex-works.
Meanwhile, demand for domestic HRC in Turkish spot market is also slack and prices have remained stable week on week.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
580-600 |
590-610 |
|
1.5 mm HRS |
620-640 |
635-665 |
|
2-12 mm HRC (for large tonnages) |
|
570-590 |
|
3-12 mm HR P&O |
650-660 |
670-700 |