Over the past week, demand in the local Turkish hot rolled coil (HRC) market has remained at low levels, while prices have decreased further, softening by $10/mt to $560-570/mt ex-works. Turkish buyers are still postponing their HRC purchases as they continue to seek discounts. However, Turkish mills are unwilling to reduce their domestic HRC prices further due to higher production costs resulting from firm raw material quotations as well as higher energy rates. Under the current circumstances, HRC prices in Turkey are not expected to decline in the short term.
In the meantime, trading activity in the domestic spot market has remained at very low levels and local traders have decreased their prices by $10/mt over the past week. Domestic sales prices of traders for local HRC in Turkey’s Eregli and Gebze regions are at the following levels:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
575-585 |
585-595 |
|
1.5 mm HRS |
615-625 |
630-650 |
|
2-12 mm HRC (for large tonnages) |
|
565-575 |
|
3-12 mm HR P&O |
605-615 |
645-655 |