It is observed that demand in the local Turkish hot rolled coil (HRC) market has been at low levels during the past week, while domestic HRC prices of Turkish mills have remained stable in the same period at $550-570/mt ex-works. It is also seen that trading activity in the local Turkish HRC market is very slow as buyers are postponing their purchases due to the approaching year-end.
Traders in the Turkish HRC spot market are seen to be offering discounts as demand remains weak, and are aiming to enter 2018 with lower inventories. Meanwhile, spot HRC prices in Turkey have declined by $10/mt week on week. However, it is observed that the discounts in question have yet not been effective in stimulating demand.
Product |
Price ($/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 |