After the March 30 municipal elections in Turkey, purchases which had been postponed are now being concluded in the Turkish domestic hot rolled coil (HRC) market. Transaction activity in the market has also increased due to the strengthening of the Turkish lira against the US dollar, while last week's price increase by Turkish mills has been accepted by traders.
Market sources say that products ordered at lower prices have started to enter stocks. However, maintenance works continue at some Turkish mills and so stock levels are expected to fall following the recent buying activities. Traders, expecting stocks to fall under normal levels, state that HRC prices in the spot market may increase accordingly. HRC prices in the spot market have remained unchanged since last week. Market players also expect an uptrend in HRC prices due to the rise in raw material prices, while with one domestic producer has started to take orders for production in June. HRC mills' prices in the Turkish domestic market are currently at $575-590/mt ex-mill.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
2-12 mm HRC | 590-600 | 595-600 |
2-12 mm HRC (for large volume sales) | 580-590 | |
1.5 mm HRS | 620-630 | 625-635 |
3-12 mm HR P&O | 625-630 | 635-640 |
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.