This week, Turkish flat steel spot traders, particularly the bigger ones, have chosen to reduce offer prices as a result of the continued slowdown in business activity and the further softening of hot rolled coil (HRC) prices. However, despite the decline in feasible levels, attitudes in the market have remained divided among certain traders, resulting in some offers from traders either above or below the workable levels.
Over the past week, workable domestic hot rolled sheet prices have been quoted at $690-700/mt ex-warehouse, down from $690-710/mt ex-warehouse. According to the sources, while bigger traders have chosen to decrease offers by $10/mt to around $700/mt ex-warehouse, smaller and medium-sized traders have preferred to remain at $690/mt ex-warehouse.
Nonetheless, as previously said, certain traders are attempting to offer hot rolled sheets at $710/mt ex-warehouse, whereas others are offering greater reductions, with prices at around $680/mt ex-warehouse.
Similarly, in the cold rolled sheet market, the majority of traders have reported lower prices week on week at $810-830/mt ex-warehouse, against $820-840/mt ex-warehouse.