Due to the depreciation of the Turkish lira against foreign currencies during the past week, the apprehension amongst buyers have increased in the local Turkish hot rolled coil (HRC) market, causing purchases to be postponed. Since Feast of Sacrifice holiday will start next week on August 20, buyers in the local Turkish HRC market are not in rush to conclude new purchases, instead waiting for a halt in high exchange rate volatility. In the given period, Turkish HRC mills’ domestic prices have moved sideways in the range of $610-620/mt ex-works.
On the other hand, demand in the Turkish HRC spot market has remained at low levels, while the domestic sales of traders for local HRC in Turkey’s Eregli and Gebze regions have almost stagnated. Meanwhile, traders’ domestic HRC sales prices have remained stable week on week and are as follows:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
610-620 |
620-630 |
|
1.5 mm HRS |
650-660 |
665-685 |
|
2-12 mm HRC (for large tonnages) |
|
600-610 |
|
3-12 mm HR P&O |
650-660 |
690-700 |