Demand for Turkish producers’ hot rolled coil (HRC) products in their domestic market, which was expected to recover slightly after Ramadan, remains weak since buyers are still making bookings only to meet their immediate needs. Meanwhile, buyers are adopting a wait-and-see stance amid the stagnancy of activity in the summer season and since prices are expected to decrease in the coming period due to weak demand. Over the past two weeks, Turkish producers have decreased their HRC prices for their domestic market by $10/mt at $430-460/mt ex-works.
Meanwhile, demand has also remained slack in the local Turkish HRC spot market, with buyers are adopting a wait-and-see stance. While HRC prices given by traders in the Gebze and Eregli regions have decreased by $15/mt on average, hot rolled pickled and oiled coil (HR P&O) prices from traders in the Gebze region have declined by $45/mt, while HR P&O prices from traders in the Ereği region have declined by $30/mt, all week on week.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/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.