Over the past week, demand in the local Turkish hot rolled coil (HRC) market has remained weak, while producers’ prices have remained unchanged at $615-630/mt ex-works. Yesterday, the European Commission (EC) announced that it decided to impose provisional safeguard measures imported steel in the form of a 25 percent out-of-quota tariff, which has been considered reasonably by Turkish mills. Accordingly, buyers’ pressure on domestic HRC prices in Turkey has eased. In the short term, Turkish mills are likely to continue HRC exports to Europe, their target market, and domestic HRC prices in Turkey is expected to remain stable.
On the other hand, demand in the Turkish HRC spot market has also remained slack and traders’ HRC offers have continued their sideways movement during the period in question. The domestic sales prices of traders for local hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
620-630 |
630-640 |
|
1.5 mm HRS |
660-670 |
675-695 |
|
2-12 mm HRC (for large tonnages) |
610-620 |
|
|
3-12 mm HR P&O |
660-670 |
700-710 |