Demand for domestic production in the local Turkish hot rolled coil (HRC) market has continued to be characterized by sluggishness this week. Amid the stagnancy in the market due to Ramadan with buyers preferring to make purchases only to meet immediate needs, Turkish buyers’ HRC prices have remained stable week on week. Accordingly, Turkish HRC producers continue to test the market at price levels of $470-500/mt ex-works, but buyers are adopting a wait-and-see stance.
Meanwhile, demand has also remained slack in the Turkish HRC spot market. Turkish traders have decreased their price levels this week, following the $55/mt decline in producers’ prices seen last week. While HRC prices given by traders in the Eregli region have decreased by $40/mt, hot rolled pickled and oiled coil (HR P&O) prices from traders in the region have remained stable, both week on week. Meanwhile, HRC quotations from traders in the Gebze region have declined by $25/mt week on week, while HR P&O prices from traders in the region have also remained unchanged week on week.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
460-490 |
490-510 |
1.5 mm HRS |
500-530 |
535-565 |
2-12 mm HRC (for large tonnages) |
450-460 |
|
3-12 mm HR P&O |
560-580 |
560-600 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.