Over the past week, flat steel prices in the Turkish domestic market have continued to rise, due to the ongoing uptrend of semi-finished steel and raw material prices in the global market and also since Turkish producers’ order books are fairly full. Accordingly, Turkish producers’ domestic hot rolled coil (HRC) prices have increased by $20/mt week on week to $550-570/mt ex-works. Meanwhile, demand in the local Turkish HRC market is at decent levels with buyers continuing to conclude bookings for domestic HRC, expecting that prices will continue to rise in the coming days.
Turkish mills’ HRC exports have also accelerated with news reports relating to the final decision in the European antidumping duty investigation against hot rolled coil (HRC) imports from five countries starting to be heard. However, currently the mills are accepting limited orders for October production for both domestic and export sales, and are giving price offers from the upper end of their current price range for October output since their order books are almost full. In this context, from the beginning of July until today, August 10 domestic HRC prices in Turkey have increased by 12 percent.
Meanwhile, demand in the local Turkish HRC spot market is also at favorable levels, but buyers still have liquidity issues. Market sources state that spot prices have increased by $10/mt week on week as a result of the rise in domestic producers’ quotations, with demand expected to increase further when the liquidity issue is resolved.
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
560-580 |
570-600 |
|
1.5 mm HRC |
600-620 |
615-645 |
|
2-12 mm HRC (for large tonnages) |
|
550-570 |
|
3-12 mm HR P&O |
620-630 |
640-670 |