Demand still slack in local Turkish HRC market

Thursday, 13 June 2019 16:18:27 (GMT+3)   |   Istanbul
       

Last week, trading activity in the local Turkish hot rolled coil (HRC) market was very slow due to the end-of-Ramadan holiday. This week, buyers have started making price inquiries, though they are not in any rush to resume their bookings and, instead, are monitoring the trends in the global flat steel and raw material markets. Turkish HRC producers, whose order books are fairly full, have not revised their prices for now and kept them at $530-540/mt ex-works. According to market sources, no significant recovery is expected in demand for domestic HRC in Turkey in the short term due to the usual stagnation during the summer season, though prices are unlikely to decrease since producers’ order books are fairly full and global iron ore prices are still above $100/mt CFR China.

As for the spot market, demand has also remained slack, while traders’ prices have remained stable week on week.

 Product

Price ($/mt)

Eregli

Gebze

 2-12 mm HRC

560-570

570-580

 1.5 mm HRS

600-610

605-635

 2-12 mm HRC (for large tonnages)

 

550-560

 3-12 mm HR P&O

590-600

630-640


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