Demand in the local Turkish hot rolled coil (HRC) market has remained at low levels over the past week. It is observed that buyers in the local Turkish HRC market have continued to postpone their purchases as they continue to monitor the global flat steel market. Additionally, domestic HRC prices have fallen by $10/mt over the past week to $540-560/mt ex-works as a result of the downward pressure exerted by buyers in the previous weeks.
Market sources state that no further fall is expected in the local Turkish HRC market due to the recent improvement observed in global scrap quotations, but buyers are expected to continue exerting pressure on prices.
As for the spot market, demand is still weak and traders’ prices have moved down by $10/mt week on week in line with producers’ offers.
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
570-580 |
580-590 |
1.5 mm HRS |
610-620 |
615-645 |
2-12 mm HRC (for large tonnages) |
560-570 |
|
3-12 mm HR P&O |
600-610 |
640-650 |