Producers' prices decrease in local Turkish HRC market

According to market sources, demand received by domestic traders in the local Turkish hot rolled coil (HRC) spot market is still weak, while traders' prices have remained unchanged during the past week. Traders state that before making HRC bookings buyers are waiting to see a better economic and political outlook in Turkey, given the lack of clarity following the June 7 general election.
 
On the other hand, Turkish producers' HRC prices in their domestic market have decreased by $10/mt on the low end and by $5/mt on the upper end, starting to range at $420-440/mt ex-works for July and August production. The main reason for this price decrease is the $10-15/mt decline in import HRC prices in Turkey amid ongoing weak 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	450-460	455-465
1.5 mm HRS	480-490	485-495
2-12 mm HRC (for large volume  sales)		440-450
3-12 mm HR P&O	500-510	515-520

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