Turkish flat steel traders have preferred not to make any significant change in their official local ex-warehouse prices, keeping them relatively stable for the third week in a row. One of the reasons is that the traders have rather expensive stocks from their previously closed domestic deals for HRC. In addition, consumption is the spot market remains very low and much lower prices would hardly generate any sizeable business activity. However, some traders are ready to give some sizeable discounts without official announcements, SteelOrbis understands.
Many traders are seeking to increase their liquidity and decrease their stocks, and so are ready to give big discounts. But due to the uncertainty in the market, buyers do not want to pile up inventories. “Even sales under long-term contracts have decreased .. and [these volumes] are also offered as spot. Export sales have come to a halt. Spot stocks for flat steel increase everyday. We hope the coronavirus outbreak will end soon,” a source said.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
490-500 |
500-510 |
|
1,5 mm HRS |
520-540 |
525-555 |
|
3-12 mm HR P&O |
540-550 |
560-580 |
|
0,6 mm CRC |
600-610 |
610-620 |
|
0,7-2 mm CRC |
570-590 |
580-600 |