Amid the continued weakening in the hot rolled coil (HRC) segment and sluggish demand, Turkish flat steel traders have reduced their offers compared to the previous week. Market players note that, despite the softer pricing, overall trade is still limited, partly due to financially-strained sellers offering deeper discounts to attract serious buyers, placing more downward pressure on market expectations and prices. Moreover, with the upcoming Eid holiday, the market is expected to remain somewhat quieter in the short term, though a slight pickup in activity may follow the holiday period.
“Prices in the flat steel spot market vary more than mills’ price levels because of the very limited demand. Some market players in need of cash try to offer at significantly different prices, notably low levels, damaging market levels and buyers’ expectations,” a trader told SteelOrbis
As a result, workable domestic hot roll sheet prices are currently at $580-595/mt ex-warehouse, a $5/mt decrease from last Friday. While larger traders are selling at $595/mt ex-warehouse, smaller traders are selling at $580-590/mt ex-warehouse.
Likewise, most traders in the cold rolled sheet market have dropped their prices, to $680-735/mt ex-warehouse, from $700-740/mt ex-warehouse previously.
