This week, demand in the local Turkish hot rolled coil (HRC) spot market has remained at medium levels, just like last week, while domestic HRC prices have remained unchanged over the past week. Market sources state that low-priced Chinese offers have exerted negative pressure on the local market and so domestic traders have been hesitating to place new orders for HRC from Turkish mills.
Accordingly, demand received by Turkish HRC producers has weakened over the past week. Meanwhile, the discounts observed in the market in the past two weeks have now been reflected in domestic mills' list prices, with their offers decreasing by $15/mt since last week to $575-585/mt ex-works.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
610-620 |
615-625 |
2-12 mm HRC (for large volume sales) |
600-610 |
|
1.5 mm HRS |
640-650 |
645-655 |
3-12 mm HR P&O |
650-660 |
660-670 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.