Over the past week, Turkish producers’ domestic hot rolled coil (HRC) prices have increased by $20/mt week on week to $530-550/mt ex-works, supported by the ongoing uptrend of prices of raw material and flat steel in the global market. In line with the rise of domestic HRC prices, demand for domestic HRC in Turkey has started to recover and producers’ order books are fairly full.
Meanwhile, prices in the local Turkish HRC spot market have remained unchanged week on week. Market sources state that demand for domestic HRC has started to recover in reaction to higher producer prices and spot prices are also expected to increase in the short term. However, due to increased trading activity, buyers have started to face liquidity issues, which restrict the further improvement of HRC demand in the market.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
550-570 |
560-590 |
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 |
630-660 |