Over the past week, demand in the local Turkish hot rolled coil (HRC) market has remained weak as buyers have continued to limit their bookings in line with their immediate needs. Meanwhile, Turkish producers’ have decreased their prices by $10/mt to $515-535/mt ex-works due to the downward pricing pressure from buyers and ongoing decreases of flat steel prices in the global market. According to market sources, demand for domestic HRC in Turkey is unlikely to recover before the end of the year and prices are expected to follow the price trend in the global market.
In the given week, due to the weak demand and decreases in producers’ prices, prices in Turkish HRC spot market have also decreased by $10/mt week on week. Domestic sales prices of traders for local HRC in Turkey’s Eregli and Gebze regions are at the following levels:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
530-540 |
540-550 |
|
1.5 mm HRS |
570-580 |
585-605 |
|
2-12 mm HRC (for large tonnages) |
520-530 |
|
|
3-12 mm HR P&O |
560-570 |
600-610 |