Over the past week, demand in the local Turkish hot rolled coil (HRC) market has remained slack, while producers’ prices have remained unchanged at $520-540/mt ex-works. It is observed that Turkish mills have postponed their bookings due to the depreciation of the Turkish lira against the US dollar, the negative economic situation in Turkey, Ramadan and the approach of the summer season. According to market sources, the current situation in the Turkish HRC market is unlikely to change and demand is expected to remain weak.
As for the spot market, demand has also remained slack, while prices of traders have remained stable.
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
550-560 |
560-570 |
1.5 mm HRS |
590-600 |
595-625 |
2-12 mm HRC (for large tonnages) |
540-550 |
|
3-12 mm HR P&O |
580-590 |
620-630 |