Over the past week, demand for domestic producers' products in the local Turkish hot rolled coil (HRC) market has remained slack as buyers have continued to postpone their bookings due to the approaching year-end, while prices have remained unchanged at $550-570/mt ex-works. According to market sources, despite the weak demand, Turkish mills are preparing to increase both their domestic and export prices entering the new year due to increasing raw material costs. Since domestic HRC prices in Europe, a major target market for Turkish exporters, are also expected to increase with the start of the new year, higher prices of Turkish HRC are unlikely to face resistance from European buyers.
Meanwhile, demand for traders’ products in the Turkish HRC spot market has also remained weak and spot HRC prices in Turkey have followed a sideways trend during the past week.
The domestic sales prices of traders for local hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
550-570 |
560-580 |
|
1.5 mm HRS |
590-610 |
605-635 |
|
2-12 mm HRC (for large tonnages) |
|
540-560 |
|
3-12 mm HR P&O |
610-620 |
650-660 |