During the past week, buyers in the local Turkish hot rolled coil (HRC) market have continued to postpone their purchases with the expectation of a fall in global flat steel quotations, while demand in the local Turkish HRC market for domestic producers' products has been at low levels. Market sources expect the decline seen in raw material prices to be reflected in flat steel quotations, and so HRC prices in Turkey and in the global market are also expected to move down slightly in the short term. Turkish steel mills’ domestic HRC prices have remained stable over the past week at $625-640/mt ex-works.
Meanwhile, in the Turkish spot market, local traders' domestic HRC prices have remained stable week on week and demand received by traders has remained weak. The domestic sales prices of traders for local hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
630-640 |
640-650 |
|
1.5 mm HRS |
670-680 |
685-705 |
|
2-12 mm HRC (for large tonnages) |
|
620-630 |
|
3-12 mm HR P&O |
680-690 |
720-730 |