Prices move downwards in Turkish domestic HRC market

Local Turkish hot rolled coil (HRC) market has continued to be characterized by quiet activity during the past week, with demand slacker compared to the same time of the year one year earlier. Accordingly, traders in the local market have revised their offers down by $25/mt for HRC and hot rolled sheet (HRS) and down $20/mt for HR P&O products. Market sources state that the arrival of HRC from Turkish producers in the local market from low-priced deals concluded in early December have had a negative impact on prices, in addition to the sluggish demand. 
 
During the past week, HRC offers from Turkish producers to their local market have remained unchanged amid weak demand at $510-525/mt ex-works, for February production. Market sources state that Turkish HRC buyers are not willing to conclude deals due to the announcement made by Turkish producers two weeks earlier stating no discounts would be made and also as the export price list for HRC from the UAE has not been released yet.
 
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	540-550	545-555
1.5 mm HRS	570-580	575-585
2-12 mm HRC (for large volume  sales)		530-540
3-12 mm HR P&O	580-600	595-610

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