The demand revival which started two weeks ago in the local Turkish hot rolled coil (HRC) market has continued over the past week, with demand now at strong levels. Additionally, HRC prices in the local Turkish market have remained unchanged over the same period. Traders in the market state that Turkish producers are expected to increase their HRC prices for November production and hence prices in the spot market are also expected to increase in the short run.
Meanwhile, demand for Turkish producers' HRC has remained on the strong side. The HRC list prices of Turkish producers for their domestic market are still in the range of $590-600/mt ex-works. Market sources report that Ukrainian HRC offers to the Turkish market have had no impact on the demand for local products. Turkish buyers have found Ukrainian offers to be on the high side, while volumes offered to Turkey have been lower compared to July, before Metinvest suspended its exports.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
2-12 mm HRC | 610-620 | 615-625 |
2-12 mm HRC (for large volume sales) | 600-610 | |
1.5 mm HRS | 640-650 | 645-655 |
3-12 mm HR P&O | 650-660 | 660-670 |
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.
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