Demand in the Turkish domestic hot rolled coil (HRC) spot market has weakened compared to last week, while local HRC prices have remained unchanged. Market players state that demand has been weak amid relatively high retail prices and as buyers want to limit increases of stocks ahead of the New Year. Furthermore, Turkish producers have been receiving weak demand for their HRC, while their HRC prices are in the range of $550-560/mt ex-works for shipments in December-January. Market sources report that, with Chinese HRC flowing into the Turkish market, competition in the market has increased and so Turkish producers' HRC prices may trend downwards in the coming days.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
2-12 mm HRC | 580-595 | 585-600 |
2-12 mm HRC (for large volume sales) | 570-585 | |
1.5 mm HRS | 610-625 | 615-630 |
3-12 mm HR P&O | 610-620 | 620-630 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.