Domestic flat steel spot prices in Turkey have dropped by $10-20/mt depending on the product group, following the decline in business activity. One reason is that the market is already in somewhat of a holiday mood. Another reason is the persisting downturn in hot rolled coil (HRC) prices in Turkey, especially on the import side.
"Before the upcoming holiday, trade almost stopped, but we did not see a serious decrease in prices because our stock levels are still low. Of course, after the decrease in hot and cold rolled coil prices of producers, there was a slight decline in spot prices as well. We do not foresee any revival in demand this month due to the holiday period. However, we believe that buyers will have to replenish their stocks, especially after the second half of August," a trader told SteelOrbis.
Spot prices have decreased by $20/mt for HR pickled materials, $10/mt for CRC and HRC materials over the past week.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
1,100-1,130 |
1,120-1,140 |
|
1.5 mm HRS |
1,150-1,170 |
1,170-1,180 |
|
3-12 mm HR P&O |
1,160-1,180 |
1,170-1,200 |
|
0.6 mm CRC |
1,410-1,430 |
1,420-1,440 |
|
0.7-2 mm CRC |
1,370-1,390 |
1,380-1,410 |