Domestic HRC purchases in Turkey have continued to be postponed against the backdrop of the ongoing declines in import hot rolled coil (HRC) prices, the approach of Ramadan, the fluctuations in the exchange rate and the decision to hold a snap election in the country. As a result, demand in the local Turkish HRC market has remained at low levels over the past week. Meanwhile, producers’ domestic HRC prices have declined by $20/mt week on week to $620-650/mt ex-works.
Meanwhile, spot prices in Turkey have moved sideways in the last seven days since traders' inventories consist of products bought at high prices, though demand in the spot market is still weak.
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
650-660 |
660-670 |
|
1.5 mm HRS |
690-700 |
705-725 |
|
2-12 mm HRC (for large tonnages) |
|
640-650 |
|
3-12 mm HR P&O |
690-700 |
730-740 |