Meanwhile, Turkish steel producers' HRC prices have declined by approximately $25/mt since last week to $470-490/mt ex-works. In particular, ex-China HRC offers at $400/mt FOB along with Russian and Ukrainian HRC offers at $400-405/mt FOB have put additional pressure on Turkish producers' local prices. Market sources believe that, if Chinese offers decline by another $5-10/mt, Turkish producers will be forced to reduce their local prices further. On the other hand, this situation may change if Turkey's antidumping (AD) duty investigation against hot rolled (HR) flat steel imports, launched on January 28, finds against the countries subjected to the investigation, including China. Then Turkish producers' HRC prices may start to trend upwards again.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
520-540 |
525-545 |
1.5 mm HRS |
550-570 |
555-575 |
2-12 mm HRC (for large volume sales) |
510-530 |
|
3-12 mm HR P&O |
580-600 |
595-610 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.