Following the sharp uptrend in Turkish producers' flat steel prices after the Feast of Sacrifice holiday, traders have also increased their offers by $10/mt for hot rolled and cold rolled coils. However, market sources state that demand is now even worse than before. "Nobody wants to buy now. We have a severely fluctuating US dollar-Turkish lira rate, liquidity problems and an unstable economic situation in the market now. Demand is extremely low, stocks are high and we [traders] also do not want to order for October at the mills’ current prices. It is so risky and the market is so fragile at the moment," a trader told SteelOrbis. Market sources also state that prices may roll back if there is no support from demand coming soon.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
480-500 |
490-510 |
|
1.5 mm HRS |
510-540 |
520-550 |
|
3-12 mm HR P&O |
530-550 |
550-570 |
|
0.6 mm CRC |
600-610 |
610-620 |
|
0.7-2 mm CRC |
560-570 |
560-580 |