Prices decrease further in local Turkish HRC market

Prices in the local Turkish hot rolled coil (HRC) spot market have continued to move on a downtrend this week, decreasing by $10/mt as compared to last week, due to ongoing weak demand and problems with cash flow in the market.
 
Meanwhile, Turkish steel producers' HRC offers have remained stable week on week in the range of $450-460/mt ex-works. Although some producers have insisted on keeping their prices in this range, no transactions have been heard at $460/mt. Indeed, buyers in the Turkish market are waiting to see price reductions amid decreasing iron ore prices. Accordingly, HRC deals in the Turkish market are commonly being concluded at $430-450/mt when discounts are taken into account.
 
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	480-490	485-495
1.5 mm HRS	510-520	515-525
2-12 mm HRC (for large volume  sales)		470-480
3-12 mm HR P&O	550-560	565-570

 
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.