Following the announcement of new dumping margins of 9-13 percent for imported hot rolled coil (HRC) from Russia, this week Ukrainian HRC suppliers have sought to turn this situation to their advantage, increasing their prices for March production by $15/mt week on week. In response, Turkish producers have increased their domestic HRC prices by $20-25/mt week on week to $330-345/mt ex-works for March production. Market sources state that Turkish producers are unlikely to offer discounts on this new price range, though buyers may obtain discounts for bookings of large tonnages.
On the other hand, in the Turkish HRC spot market demand is still weak and tight liquidity problems are still observed. Following the hikes by domestic producers, traders’ prices in the spot market have increased by $5/mt for HRC and risen by $20/mt for hot rolled pickled and oiled coil (HR P&O) week on week.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
340-350 |
345-355 |
1.5 mm HRS |
380-390 |
375-385 |
2-12 mm HRC (for large tonnages) |
330-340 |
|
3-12 mm HR P&O |
390-400 |
405-410 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.