Domestic HRC prices in Turkey move sideways

Thursday, 17 January 2019 15:41:11 (GMT+3)   |   Istanbul
       

Demand in the local Turkish hot rolled coil (HRC) market has remained at low levels over the past week. It is observed that Turkish buyers have postponed their HRC purchases as they continue to exert pressure on prices due to the negative outlook for the Turkish economy. However, Turkish steel mills are not open to offering new discounts since global flat steel quotations have remained stable. As a result, local mills’ domestic HRC prices in Turkey have remained unchanged over the past week at $470-500/mt ex-works. Market sources state that they are not expecting a new reduction in domestic HRC prices as iron ore quotations are still above the $70/mt mark, while global flat steel prices have moved sideways. Demand in the local Turkish HRC market is expected to remain at low levels due to the negative economic outlook.

As for the spot market, demand has remained weak, while traders’ HRC spot prices in Turkey have remained unchanged week on week.

 Product

Price ($/mt)

Eregli

Gebze

 2-12 mm HRC

510-520

520-530

 1.5 mm HRS

550-560

565-585

 2-12 mm HRC (for large tonnages)

 

500-510

 3-12 mm HR P&O

540-550

580-590


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