It is observed that buyers in the Turkish hot rolled coil (HRC) market have accelerated their price inquiries, while the downward pressure on HRC prices has increased. Considering the current levels of global flat steel quotations, Turkish steel mills have reduced both their domestic and export HRC offers. Accordingly, Turkish steelmakers’ domestic HRC quotations have declined by $10/mt week on week to $570-590/mt ex-works.
Meanwhile, availability problems for some products have been experienced in the Turkish HRC spot market. Market sources state that this problem has prevented traders' HRC spot prices in Turkey from softening despite the weakness of demand and the declines seen in Turkish mills’ HRC prices. As a result, traders’ HRC prices in the Turkish spot market have remained stable during the past week.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
2-12 mm HRC |
570-590 |
580-600 |
1.5 mm HRS |
610-630 |
625-655 |
2-12 mm HRC (for large tonnages) |
|
560-580 |
3-12 mm HR P&O |
630-640 |
650-680 |