SteelOrbis has learned from market sources that demand in the Turkish hot rolled coil (HRC) market is increasing together with the rise in spot prices. Traders indicate that HRC demand from the automotive sector is slack but demand from overall domestic industry, which was stagnant last week, has been increasing this week. Turkish traders have increased their HRC prices by $10/mt in the market, where price increases from producers have been absorbed. The increases in demand after a long period have been welcomed by market players. With new price levels in the market being accepted by buyers, demand is increasing. In the absence of expectations of strong price movements in the coming period, buyers are less reluctant to conclude purchases.
Turkish producers, who had not revised their prices last week, have increased their offers by $5-10/mt to $575-600/mt ex-works. Having sold most of their products for December output, local producers have already started to receive inquiries for January production materials, which is also another positive develeopment in the market, where lead times had been quite short for a while.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
600-610 |
610-615 |
1.5 mm HRS |
635-640 |
650-660 |
3-12 mm HR P&O |
650-655 |
660-665 |
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.