According to market sources, demand in the Turkish hot rolled coil (HRC) spot market is still considered to be weak this week amid ongoing political and economic uncertainty. Market sources state that buyers are postponing their HRC purchases due to cash flow problems and so activity has slowed down in the market. Even though the prices of HRC have remained stable in Turkish spot market this week, they have decreased by 13 percent since the beginning of June and buyers still continue to prompt pressure on prices.
On the other hand, Turkish producers’ HRC prices have moved downward amid slack demand, declining by another $10/mt during the past week to $350-360/mt ex-works, for October production. However, Turkish producers are still offering volume discounts of $10/mt and higher, depending on buyer and tonnage. Also, Turkish producers’ HRC prices have decreased by 19 percent since the beginning of June and buyers still continue to prompt pressure on prices due to the ongoing downtrend of import HRC offers.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
390-400 |
395-405 |
1.5 mm HRS |
430-440 |
425-435 |
2-12 mm HRC (for large volume sales) |
|
380-390 |
3-12 mm HR P&O |
450-460 |
465-470 |