Demand in the local Turkish hot rolled coil (HRC) market has remained slack in the past week, just like in the previous week, while Turkish HRC producers’ price offers have remained unchanged at $460-500/mt ex-works. Meanwhile, Turkish producers’ current HRC prices, which have now been stable for two consecutive weeks, have gained acceptance in the market, with the support of the uptrend of semi-finished and finished steel prices. Also, market players state that Turkish producers have started to give price offers for July production.
On the other hand, prices in the local Turkish HRC spot market have increased by $10/mt on the lower end and risen by $20/mt on the upper end, as producers’ price increases have gained acceptance in the market. However, demand in the spot market is still weak since buyers are still concluding deals only to meet their immediate needs.
Meanwhile, Turkey’s Ministry of Economy has announced that it has terminated the antidumping (AD) duty investigation on hot rolled flat steel imports from seven countries, upon the withdrawal of the application made by three Turkish steelmakers. Accordingly, market players think that the rapid uptrend of HRC prices will give way to a slight uptrend or to a sideways trend, with the removal of preliminary dumping margins on import material.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
490-510 |
495-515 |
1.5 mm HRS |
530-550 |
525-545 |
2-12 mm HRC (for large tonnages) |
460-470 |
|
3-12 mm HR P&O |
540-550 |
555-565 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.