This week, trading activity has become less lively in the local Turkish hot rolled coil (HRC) market since producers have adopted a wait-and-see stance after concluding deals last week, and so demand is now at weak levels. Turkish HRC producers have kept their prices unchanged week on week at $430-450/mt ex-works for May production, though they are offering discounts of $10-20/mt on their price range for bookings of large tonnages. Meanwhile, no import HRC offers have been heard in the Turkish market yet.
On the other hand, demand in the Turkish HRC spot market has also decreased over the past week and is now at low levels. Even though producers’ prices have remained stable this week, last week’s prices increase has been reflected in the spot market this week and so traders’ prices of HRC have increased by $20/mt on the low end and by $30/mt on the upper end, while their prices of HR P&O have not changed.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
440-460 |
445-465 |
1.5 mm HRS |
480-500 |
475-495 |
2-12 mm HRC (for large tonnages) |
430-450 |
|
3-12 mm HR P&O |
490-500 |
505-510 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.