Over the past week, demand in the local Turkish hot rolled coil (HRC) market has remained at low level, while prices have remained unchanged. While buyers have postponed their bookings due to the weakness of demand from end-users and have exerted downward pressure on prices, Turkish HRC producers have been unwilling to decrease their prices due to high raw material costs and have maintained their current price levels at $520-540/mt ex-works. According to market sources, domestic HRC demand in Turkey, which has failed to recover following the local elections at the end of March, is expected to be negatively impacted by to the approach of Ramadan and is unlikely to increase in the short term.
As for the spot market, demand is still weak and traders’ prices have remained stable week on week.
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
550-560 |
560-570 |
|
1.5 mm HRS |
590-600 |
595-625 |
|
2-12 mm HRC (for large tonnages) |
540-550 |
|
|
3-12 mm HR P&O |
580-590 |
620-630 |