Demand has deteriorated further in the domestic flat steel spot market in Turkey, following the sharp fall in the value of the Turkish lira. For now, traders have decided to be more flexible in discounts instead of decreasing their official offer levels. “Currencies have strengthened a lot against the Turkish lira and blocked any possible demand improvement in the market. We still have high stock volumes and there is great uncertainty at the moment. We do not see any logic in revising our prices and we decide on discounts order by order,” a trader told SteelOrbis.
Cash flow remains one of the key problems in the market, again resulting partly from unstable exchange rates. “We need financial stabilization soon, because with this US dollar-Turkish lira rate it is impossible to do healthy trade. Some traders are trying to sell their stocks at incredibly low prices due to panic. If these market conditions exist for a longer period, we will see bankruptcies on the traders’ side,” another stockist said.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
450-470 |
460-480 |
|
1.5 mm HRS |
480-510 |
490-520 |
|
3-12 mm HR P&O |
490-510 |
510-530 |
|
0.6 mm CRC |
570-580 |
580-590 |
|
0.7-2 mm CRC |
530-540 |
530-550 |