Over the past week, demand in the local Turkish hot rolled coil (HRC) market has remained slack as Turkish buyers are postponing their bookings due to the negative economic situation in Turkey and since they want to enter the new year with the lowest possible inventory levels. Although they are making occasional bookings in order to meet their immediate needs, they are exerting extreme pressure on prices during transactions. Meanwhile, Turkish producers have been unwilling to decrease their domestic prices and have maintained their offers unchanged at $515-535/mt ex-works as flat steel prices in the global market have switched to a sideways trend since the beginning of this week. Although some deals have been heard at $490-500/mt ex-works, SteelOrbis has not received official confirmation of these deals. Due to the strong expectation that flat steel prices in the global market will move sideways up to the end of the year, prices in the local Turkish HRC market are not expected to decrease sharply in the coming days.
In the given week, demand in the Turkish HRC spot market has remained slack and traders’ prices have remained stable. Domestic sales prices of traders for local HRC in Turkey’s Eregli and Gebze regions are at the following levels:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
530-540 |
540-550 |
|
1.5 mm HRS |
570-580 |
585-605 |
|
2-12 mm HRC (for large tonnages) |
520-530 |
|
|
3-12 mm HR P&O |
560-570 |
600-610 |