Following the previous week's increase in hot rolled coil (HRC) prices, which has also affected the hot rolled sheet segment, the Turkish flat steel market has been quiet this week, with no significant price movements in either of the flat steel spot segments. Despite the continuing positive price movements in the scrap market and stable HRC prices which have contributed to the current stability in the spot market, Turkish flat steel spot traders remain cautious about the prospects for prices in the coming weeks. According to market participants, the outlook remains weak as ongoing weak demand and financial issues remain the main persistent concerns in the market.
“The market has been calm this week in terms of both pricing and demand, but the lack of demand continues to generate very negative pressure,” a trader told SteelOrbis.
In accordance with this week's workable prices, which are at $580-595/mt ex-warehouse, the bigger traders are reported to be offering at about $595/mt ex-warehouse, while medium-sized and smaller traders are offering at roughly $580-590/mt ex-warehouse.
Meanwhile, in the cold rolled sheet segment, most sellers have decided to keep offers stable at $685-720/mt ex-warehouse compared to the previous week.