In the past week, demand in the local Turkish hot rolled coil (HRC) spot market has remained at medium levels, just like in the previous week, while domestic prices have softened by $15-20/mt for HRC and by $10/mt for hot rolled pickled and oiled (HR P&O) materials over the past week. Market sources state that local prices have started to decline since low-priced Chinese materials have entered the Turkish spot market and price decreases in the local HRC market may continue against the backdrop of price cuts made by local mills in the past week.
On the other hand, demand received by Turkish HRC producers has remained poor over the past week. Meanwhile, Turkish mills' HRC prices are still standing at $575-585/mt ex-works, remaining stable over the past week.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
590-605 |
595-610 |
2-12 mm HRC (for large volume sales) |
620-635 |
625-640 |
1.5 mm HRS |
580-595 |
|
3-12 mm HR P&O |
640-650 |
650-660 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.