Over the past week, buyers have stepped up their purchases in the local Turkish hot rolled coil (HRC) market as expectations of further price increases in the domestic market have gained strength amid upticks in global iron ore and flat steel prices. Accordingly, demand for domestic producers’ products has increased rapidly. Meanwhile, producers’ prices in the Turkish domestic HRC market have remained stable week on week in the range of $500-520/mt ex-works.
On the other hand, the local Turkish HRC spot market has continued to be characterized by the recovery seen last week and demand is at decent levels. While traders’ HRC prices have not changed compared to the previous week, their prices will likely increase in the short term.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
540-560 |
550-580 |
1.5 mm HRS |
580-600 |
595-625 |
2-12 mm HRC (for large tonnages) |
|
530-550 |
3-12 mm HR P&O |
600-610 |
620-650 |