This week hot rolled coil (HRC) prices in the Turkish domestic market have softened by $20/mt as compared to last week, while cold rolled coil (CRC) prices have indicated a decline of $15-20/mt over the same period. Slack flat steel demand has continued to cause spot prices to soften further, while for large volume purchases prices have declined below the asking prices. In the meantime, traders in the Turkish domestic market have been forced to conclude sales as the market is facing liquidity shortages at the moment, and this situation has caused profit margins to contract, and in some cases profit margins have even disappeared. On the other hand, some dealers who are taking risks and maintaining high levels of inventories are able to make profitable sales for some products for which there is low availability in the market.
Just like previous weeks, supply shortages still continue to be seen for hot rolled pickled and oiled coils (HR P&O), with prices of these products trending sideways in the local Turkish market.
The domestic sales prices of traders for local and imported hot and cold rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
Eregli |
Gebze |
2-12 mm HRC |
630-640 |
620-630 |
1.5 mm HRS |
680-700 |
680-700 |
3-12 mm HR P&O |
690-700 |
690-710 |
0.6 mm CRC |
780-790 |
790-800 |
0.7-2 mm CRC |
750-760 |
740-760 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.