Demand in the local Turkish hot rolled coil (HRC) market has remained at low levels over the past week, while domestic HRC prices have continued their downtrend. It is observed that buyers in the local Turkish HRC market has continued to postpone their purchases due to the negative economic outlook and falling global flat steel quotations, exerting pressure on domestic HRC prices. Under the current circumstances, Turkish HRC producers have reduced their prices by $5/mt week on week to $530-550/mt ex-works. Market sources state that no significant revival in domestic demand is foreseen, though no sharp decrease in domestic HRC prices is expected either in the coming period given the strength of global raw material quotations.
Meanwhile, demand in the Turkish spot HRC market has remained weak, with prices moving sideways. Domestic sales prices of traders for local HRC in Turkey’s Eregli and Gebze regions are at the following levels:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
545-555 |
555-565 |
|
1.5 mm HRS |
585-595 |
600-620 |
|
2-12 mm HRC (for large tonnages) |
|
535-545 |
|
3-12 mm HR P&O |
575-585 |
615-625 |