Over the past week, demand received by domestic producers in the local Turkish hot rolled coil (HRC) market has remained weak, while producers' prices have declined by $5/mt on the upper end to $625-635/mt ex-works. According to market sources, buyers are postponing their bookings as they want to monitor the global market.
Meanwhile, demand has also remained slack in the local Turkish HRC spot market. However, traders have been unwilling to decrease their prices due to their high-cost HRC inventories. The domestic sales prices of traders for local hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
630-640 |
640-650 |
1.5 mm HRS |
670-680 |
685-705 |
2-12 mm HRC (for large tonnages) |
|
620-630 |
3-12 mm HR P&O |
680-690 |
720-730 |