Demand in the local Turkish hot rolled coil (HRC) market has remained at low levels over the past week, while buyers have continued to exert downward pressure on prices. It is observed that Turkish buyers have also continued to monitor the global market and have increased their pressure exerted on local mills’ HRC prices amid the falling trend seen in import HRC offers.
Still, domestic HRC prices in Turkey have remained stable at $520-540/mt ex-works. Market sources report purchases concluded at $495-515/mt ex-works, while SteelOrbis has not yet received any confirmation of this price range from any of the parties involved. Additionally, market sources state that buyers in the local Turkish HRC market have maintained their cautious stance due to the approach of Ramadan and of the summer period, and so demand is not expected to emerge from its sluggishness in the short term.
As for the spot market, demand is still weak and traders’ prices have remained stable week on week as there are shortages for some grades and dimensions, mainly as traders are still awaiting delivery of orders for January output.
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
550-560 |
560-570 |
|
1.5 mm HRS |
590-600 |
595-625 |
|
2-12 mm HRC (for large tonnages) |
|
540-550 |
|
3-12 mm HR P&O |
580-590 |
620-630 |