With the ongoing uptrend in raw material and semi-finished steel prices, producers’ prices in the local Turkish hot rolled coil (HRC) market have increased by $10/mt on the low-end and by $15/mt on the upper end to $350-370/mt ex-works for May production. Besides, market sources state that Turkish producers are receiving limited orders for April production, but their prices for April production are $10/mt higher as compared to prices for May production. Due to the increases in import HRC prices in the Turkish market, buyers prefer locally produced HRC due to price and delivery time advantages; and this situation has increased demand for domestic HRC, carrying it to medium levels. Also, Turkish producers are offering discounts of $10-20/mt on this new price range 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. However, following the hikes by domestic producers, traders’ prices in the spot market have increased by $10/mt week on week.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
350-360 |
355-365 |
1.5 mm HRS |
390-400 |
385-395 |
2-12 mm HRC (for large tonnages) |
340-350 |
|
3-12 mm HR P&O |
400-410 |
415-420 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.