In the past week the Turkish flat steel market has remained silent. While domestic demand is still quite low, flat steel prices have shown some decrease. Turkish steel producers are currently offering hot rolled coil (
HRC) to their domestic market at $670-690/mt ex-works, while their cold rolled coil (
CRC) offers are at $800-820/mt ex-works. These days, buyers are delaying their purchases as they anticipate that prices will go down further, and thus there are not many transactions in the market. SteelOrbis has also learned that integrated steelmaker
Erdemir is about to close its order book for November production and it will soon begin accepting orders for December production.
In the Turkish domestic market,
HRC spot prices have been at $690-720/mt, while
CRC spot prices are at $820-870/mt, both ex-warehouse. Traders' inventories in
Turkey's Eregli and Gebze regions are low, while transactions are scarce. While buyers have been postponing purchases for weeks now, demand is expected to show an improvement after the Feast of Sacrifice holiday in the second week of November.