Over the past week, demand in the local Turkish hot rolled coil (HRC) market has remained at low levels. It is observed that buyers in the local Turkish HRC market are postponing their purchases ahead of the end-of-Ramadan holiday, while HRC producers have reduced their prices by $10/mt week on week to $490-510/mt ex-works with the influence of low-priced import HRC deals.
In the domestic spot market, trading activity is still seen to be slow due to Ramadan, while inventories are at low levels, with traders' spot prices remaining unchanged compared to last week.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
2-12 mm HRC | 520-540 | 530-560 |
1.5 mm HRS | 560-580 | 575-605 |
2-12 mm HRC (for large tonnages) | 510-530 | |
3-12 mm HR P&O | 580-590 | 600-630 |