Over the past week, demand in the local Turkish hot rolled coil (HRC) market has continued to be characterized by sluggishness, while producer prices have remained stable at $580-600/mt ex-works. Meanwhile, the declines seen in import HRC offers to Turkey resulted in increased pressure from buyers on local producers’ HRC prices. However, Turkish mills are unwilling to offer new discounts due to the fullness of their order books and also due to the strong demand for Turkish HRC in the export markets.
Meanwhile, demand for traders’ products in the Turkish HRC spot market has also remained weak, while liquidity in the market is also tight. However, prices have followed a stable trend in line with producers’ prices.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
570-590 |
580-600 |
|
1.5 mm HRS |
610-630 |
625-655 |
|
2-12 mm HRC (for large tonnages) |
|
560-580 |
|
3-12 mm HR P&O |
630-640 |
650-680 |