Demand in the local Turkish hot rolled coil (HRC) spot market has remained at low levels during the past week, while domestic HRC prices have moved sideways in the same period. Market players are still experiencing cash flow problems in the spot market and buyers are only concluding deals in line with their needs amid the fluctuations seen in the US dollar-Turkish lira exchange rate.
On the other hand, demand for Turkish producers' HRC products has been slack over the past week, while Turkish producers' HRC prices have also remained unchanged in the given period at $310-320/mt ex-works for February production. Although foreign suppliers' HRC offers to Turkey have moved sideways during the past month for February production, Turkish buyers are still putting downward pressure on local HRC prices due to sluggish demand.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
340-350 |
345-355 |
1.5 mm HRS |
380-390 |
375-385 |
2-12 mm HRC (for large tonnages) |
330-340 |
|
3-12 mm HR P&O |
380-390 |
395-400 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.