Over the past week, buyers in the local Turkish hot rolled coil (HRC) market have continued to be cautious due to the prevailing belief that global flat steel prices would decline because of Ramadan and the downtrend of iron ore prices. Demand for domestic producers’ HRC products has remained weak. Turkish producers’ local HRC prices are still at $500-520/mt ex-works.
In the spot market, buyers have continued to postpone their purchases despite low inventory levels, resulting in sluggish trading activity, while traders’ spot prices have remained stable.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
| Product | Price ($/mt) | |
| Eregli | Gebze | |
| 2-12 mm HRC | 520-540 | 530-560 |
| 1.5 mm HRS | 560-580 | 575-605 |
| 2-12 mm HRC (for large tonnages) |
| 510-530 |
| 3-12 mm HR P&O | 580-590 | 600-630 |