Over the past week, buyers in the local Turkish hot rolled coil (HRC) market have continued to make bookings only to meet their immediate needs, also with the aim to exert pressure on producers’ prices despite the prices declines from Turkish producers in the previous week. However, Turkish mills are unwilling to reduce their prices amid their higher production costs as a result of increased energy prices and strong raw material prices. As a result, producers’ prices in the local Turkish HRC market are still at $560-570/mt ex-works, remaining unchanged week on week. Although several buyers in the market claim that some bookings have been concluded at $550-555/mt ex-works as a result of price reductions obtained during negotiations, confirmation of these price levels has not been received by SteelOrbis.
In the meantime, prices in the Turkish HRC spot market have also remained stable, while demand has been weak due to buyers’ expectation that prices will resume their downward movement in the coming period. Domestic sales prices of traders for local HRC in Turkey’s Eregli and Gebze regions are at the following levels:
|
Product |
Price ($/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 |