On the other hand, downward pressure exerted on domestic producers' HRC prices in previous weeks has been successful, with prices declining by $15/mt on the lower end and decreasing by $10/mt on the upper end in the past week to $405-430/mt ex-works, for August production. The main reason for the fall in HRC prices was the desire of buyers to achieve their sales quota for August before the end-of-Ramadan holiday. Demand has revived slightly after the declines seen in HRC prices but is still at weak levels. Buyers who have not restarted their purchasing activity yet are hesitating to conclude new deals due to the possibility of a declining trend in prices after Ramadan.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
440-450 |
445-455 |
1.5 mm HRS |
470-480 |
475-485 |
2-12 mm HRC (for large volume sales) |
430-440 |
|
3-12 mm HR P&O |
500-510 |
515-520 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.