Demand in the local Turkish hot rolled coil (HRC) market has remained slack for the second consecutive week, while market sources believe the sluggish demand situation is caused by buyers who have been postponing their purchases as they consider the current price levels to be unrealistic. As a result, price offers from Turkish HRC producers have remained unchanged week on week at $450-480/mt ex-works, though they are still offering discounts depending on buyers and tonnages.
On the other hand, demand in the Turkish HRC spot market is still slack, just like in the previous week, while traders' prices for HRC have remained stable week on week mostly due to the sideways movement seen in producers' quotations.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/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.