As a result of the ongoing uptrend in prices of raw material and semi-finished steel, producers’ prices in the local Turkish hot rolled coil (HRC) market have continued to rise this week, with prices increasing by $80/mt week on week to $430-450/mt ex-works for May production. Since overseas producers prefer to wait and watch the market, no import HRC offers have been heard in Turkey recently and buyers prefer to meet their HRC needs from the domestic market. Also, Turkish producers are offering discounts of $10-20/mt on their new price range for bookings of large tonnages.
On the other hand, demand in the Turkish HRC spot market has increased over the past week and is now at medium levels, supported by the ongoing uptrend of prices during the past week. While it is stated that prices in the spot market have increased by $70/mt for HRC and by $90/mt for HR P&O, sellers are finding it difficult to determine a price range amid the increases seen in producers’ prices.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
420-430 |
425-435 |
1.5 mm HRS |
460-470 |
455-465 |
2-12 mm HRC (for large tonnages) |
410-420 |
|
3-12 mm HR P&O |
490-500 |
505-510 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.