Demand for Turkish producers' hot rolled coil (HRC) products in their domestic market has remained low for the third consecutive week. Buyers in Turkey are worried following the coup attempt in Turkey on the night of July 15 and the subsequent declaration of a state of emergency and they prefer to wait and see before concluding new purchases of domestic production HRC. Meanwhile, market sources report that transaction activity in the local Turkish HRC market has also slowed down amid the sharp changes recorded in the Turkish lira-US dollar exchange rate and due to current cash flow problems. While the volume of price inquiries has declined significantly in the domestic HRC market this week, HRC producers have kept their offers unchanged week on week. Accordingly, Turkish producers' HRC quotations for their domestic market are still at $400-430/mt ex-works.
Although buyers have been concluding purchases only in line with their needs and demand has remained at low levels, traders in the local Turkish HRC spot market have also kept their prices stable. However, SteelOrbis has been informed that discounts are available depending on buyer and tonnage.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
2-12 mm HRC |
440-460 |
450-470 |
1.5 mm HRS |
480-500 |
495-515 |
2-12 mm HRC (for large tonnages) |
420-430 |
|
3-12 mm HR P&O |
480-500 |
500-530 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.