Demand in the local Turkish hot rolled coil (HRC) market has remained at low levels over the past week. It is observed that Turkish buyers have continued to monitor the global flat steel market as they still consider domestic HRC prices to be on the high side. As they still believe domestic HRC quotations should be revised, Turkish buyers continue to exert pressure on prices. However, Turkish HRC producers’ order books are fairly full, and so they have not reduced their domestic HRC offers, instead keeping them stable at $550-570/mt ex-works. Market sources expect Turkish producers to cut their prices in the short term in line with buyers’ expectations due to lower raw material prices.
As for the spot market, demand is still weak but traders’ prices have moved sideways week on week.
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
580-590 |
590-600 |
|
1.5 mm HRS |
620-630 |
625-655 |
|
2-12 mm HRC (for large tonnages) |
|
570-580 |
|
3-12 mm HR P&O |
610-620 |
650-660 |