During the past week, demand for Turkish producers' hot rolled coil (HRC) products in their domestic market has slightly improved, though it is still at low levels. Market sources state that the range of HRC products available in the market has narrowed as buyers have been reluctant to restock for a long time now. Accordingly, in the past week Turkish HRC producers have increased their domestic offer prices by $20/mt on the lower end and by $5/mt on the upper end week on week to $420-435/mt ex-works, after a month-long sideways movement.
Meanwhile, demand in the local Turkish HRC spot market has remained at low levels during the past week. As a result, the rises seen in Turkish producers' HRC offer prices have not yet been reflected in traders' HRC prices which have remained stable over the past week.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
2-12 mm HRC |
440-460 |
450-470 |
1.5 mm HRS |
480-500 |
495-515 |
2-12 mm HRC (for large tonnages) |
420-430 |
|
3-12 mm HR P&O |
480-500 |
500-530 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.