During the past week, demand in the local Turkish hot rolled coil (HRC) market has remained slack as buyers have continued to postpone their HRC purchases due to the approach of the Feast of Sacrifice holiday, seasonal conditions and ongoing sharp depreciations of Turkish lira against the US dollar. Meanwhile, demand for Turkish HRC in export markets has also weakened more counties have entered their traditional summer holidays in Europe. As a result, Turkish mills’ domestic HRC quotations have remained stable week on week at $610-620/mt ex-works.
On the other hand, demand in the Turkish HRC spot market has also remained at low levels, while the domestic sales prices of traders for local HRC in Turkey’s Eregli and Gebze regions have remained unchanged week on week. While buyers have postponed their bookings and have adopted a wait-and-see stance due to the ongoing depreciation of Turkish lira against the US dollar, sellers have been heard to stop their sales occasionally. The domestic sales prices of traders for local hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
610-620 |
620-630 |
|
1.5 mm HRS |
650-660 |
665-685 |
|
2-12 mm HRC (for large tonnages) |
600-610 |
|
|
3-12 mm HR P&O |
650-660 |
690-700 |