The local Turkish hot rolled coil (HRC) market has continued to be characterized by sluggishness during the past week, while traders have cut their prices by $5/mt, following the local producers' price reductions. However, HRC buyers have continued to make purchases only to meet their immediate needs.
While market players had been curious about the possible influence of decreasing ex-CIS HRC offers on Turkish producers' HRC prices for March shipments, last week Turkish steel producers decreased their HRC prices by $20/mt week on week to $450-460/mt ex-works. Meanwhile, this week ex-Ukraine flat steel offers to Turkey, which had indicated sharp declines in previous months, have not decreased as much as expected, with ex-Ukraine cold rolled coil (CRC) offers declining slightly by $5/mt to $495/mt CFR and HRC offers decreasing by $10/mt to $410/mt CFR. However, Turkish buyers' offers to conclude ex-Ukraine HRC purchases are at $400/mt CFR, while they are also waiting to see even lower prices due to the sluggishness of the market.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
| Product | Price ($/mt) | |
| Eregli | Gebze | |
| 2-12 mm HRC | 515-525 | 520-530 |
| 1.5 mm HRS | 545-555 | 550-560 |
| 2-12 mm HRC (for large volume sales) | 505-515 | |
| 3-12 mm HR P&O | 580-590 | 595-600 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.