Over the past week, in the local Turkish hot rolled coil (HRC) market both producers and traders have reduced their prices. The EU is scheduled to announce on April 7 the preliminary decision of the antidumping duty investigation against HRC imports from five countries. If no provisional duties are imposed on the products in question, Turkish offers to the EU will likely come under downward pressure. Amid weak Turkish domestic demand and the slackening of demand from the EU, Turkish producers have also been influenced by the downward trend of HRC export prices from China and the CIS region. Accordingly, domestic producers’ HRC in the local Turkish market have moved down by $20/mt week on week to $530-550/mt ex-works.
In the spot market, demand for HRC has remained weak and price declines on the producers’ side have been reflected in traders’ prices as well. Spot market prices for HRC have decreased by $25/mt, while prices for hot rolled pickled and oiled coil have declined by $20/mt, both week on week.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
530-550 |
540-570 |
1.5 mm HRS |
570-590 |
585-615 |
2-12 mm HRC (for large tonnages) |
520-540 |
|
3-12 mm HR P&O |
590-600 |
610-640 |