Activity subsides again in Turkish flat steel market

After witnessing a slight increase in activity early last week, the Turkish flat steel market  became quiet again towards the end of the week, raising expectations for new price cuts, with discounts for large volume orders triggering such anticipations. In July, demand, which is currently weak, is foreseen to slow down further, due to planned maintenance works of end-users, and flat steel prices are then expected to soften further.
 
As of today, June 25, hot rolled sheet and coil (HRS and HRC) prices in the Turkish domestic spot market are standing at $640-660/mt, cold rolled sheet and coil (CRS and CRC) prices are at $740-760/mt, while hot rolled pickled and oiled sheet (HR P&O) prices are standing at the range of $690-700/mt and hot dip galvanized (HDG) coils are at $740-760/mt, all ex-warehouse, exclusive of 18 percent VAT. All prices are reported to be flexible, with discounts of about $10-30/mt available in the market.