Over the past week, demand in the local Turkish hot rolled coil (HRC) market has remained stable, while prices have been unchanged at $570-580/mt ex-works. Meanwhile, the production halts which have started to be observed in key domestic industries, such as automotive, have increased the cautious mood among buyers. Currently, buyers are trying to keep their inventories low and are making bookings only to meet their immediate needs, while market players think that it will take some time for the Turkish economy to recover. Accordingly, demand for domestic HRC in Turkey is likely to remain weak in the short term.
In the meantime, trading activity in spot market has been weak and traders have decreased their prices by $10/mt over the past week. Domestic sales prices of traders for local HRC in Turkey’s Eregli and Gebze regions are at the following levels:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
585-595 |
595-605 |
|
1.5 mm HRS |
625-635 |
640-660 |
|
2-12 mm HRC (for large tonnages) |
|
575-585 |
|
3-12 mm HR P&O |
615-625 |
655-665 |