Over the past week, demand in the local Turkish hot rolled coil (HRC) market has remained slack, while domestic HRC prices in Turkey have moved sideways at $585-595/mt ex-works. It is observed that Turkish buyers are worried about the state of the economy and have continued to postpone their purchases in the given week. However, expectations of an end to the downward movement of the local Turkish HRC market have gained strength following the notice issued by the Turkish Ministry of Trade announcing import quotas for certain steel products, including flat steel imports, as of today, September 20, with 25 percent import duty to be collected if the quotas are exceeded.
Domestic sales prices of traders for local HRC in Turkey’s Eregli and Gebze regions have remained stable in the given period at the following levels:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
2-12 mm HRC |
595-605 |
605-615 |
|
1.5 mm HRS |
635-645 |
650-670 |
|
2-12 mm HRC (for large tonnages) |
|
585-595 |
|
3-12 mm HR P&O |
625-635 |
665-675 |