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. Market sources state that buyers are purchasing only in line with their needs amid Ramadan and ongoing political uncertainties in Turkey.
On the other hand, Turkish producers' HRC prices in their domestic market have also remained unchanged over the past week at $420-440/mt ex-works for August production. Market sources state that buyers are putting downward pressure on Turkish producers' prices, while they believe the main reasons for this pressure are cheaper import offers and sluggish market conditions.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/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.