According to market sources, demand received by domestic traders in the local Turkish hot rolled coil (HRC) spot market is still weak, while prices have remained unchanged during the past week. Traders state that cash flow problems still continue to exist and that demand has failed to improve despite the reductions in prices made by traders last week.
On the other hand, local demand for Turkish producers' HRC products is still weak amid political uncertainties ahead of the general election on June 7. Turkish producers are determined to maintain their current price range, while their HRC prices for their local market have remained in the range of $430-445/mt ex-works over the past week, for July and August production.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
450-460 |
455-465 |
1.5 mm HRS |
480-490 |
485-495 |
2-12 mm HRC (for large volume sales) |
440-450 |
|
3-12 mm HR P&O |
500-510 |
515-520 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.