Over the past week, domestic producers’ prices in the local Turkish hot rolled coil (HRC) market have not changed, while demand for producers’ products has remained weak. Turkish buyers continue to sit back and monitor the global flat steel market, while they strongly expect that global flat steel prices will soften in the short term since iron ore prices have declined by six percent in the past week. Turkish producers’ local HRC prices currently stand at $500-520/mt ex-works.
Meanwhile, in the spot market, inventory levels have remained low, while traders have continued to monitor the market instead of rebuilding their stocks, keeping their prices unchanged.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
520-540 |
530-560 |
1.5 mm HRS |
560-580 |
575-605 |
2-12 mm HRC (for large tonnages) |
|
510-530 |
3-12 mm HR P&O |
580-590 |
600-630 |