The flat steel price increases in the Turkish market which had been continuing since early January have stalled this week, with buyers switching to waiting mode.
This week, Turkish steelmaker
Çolakoğlu Metalürji has maintained its March production hot rolled coil (
HRC) prices at $830/mt ex-works, while the Turkish integrated steelmaker
Erdemir's April production
HRC and
CRC stand at base price levels of $850/mt and $950/mt respectively.
The Turkish flat steel market had been waiting a long time for the flat steel export prices of
ArcelorMittal's Romania-based subsidiary
ArcelorMittal Galati. As SteelOrbis has previously reported,
ArcelorMittal Galati this week concluded a deal for approximately 50,000 mt of
HRC to
Turkey at the price level of $815-825/mt CFR.
Last week, Turkish flat steel producers' price hikes had been reflected in spot market sales prices. However, it is observed that this week some traders have slightly softened their prices. SteelOrbis has learned that in this week's Turkish domestic spot market 2 mm
HRC offers have been at $790-810/mt, while 1-1.5 mm
CRC offers have been at $920-950/mt, both ex-warehouse.