Despite low demand, prices for the hot rolled coils (HRC) in Turkish spot flat market have continued to increase, having added $10-20/mt. The key reason is the higher producers' prices, but demand has remained low due to uncertainty and instability in the economy.
"Our restocking costs have increased, but we don't see any support from demand and we think all steel prices will see a correction in Turkey soon. Uptrends are not sustainable because of current demand levels and economic outlook in the country," a trader told SteelOrbis. The situation in the cold rolled flat steel segment appears to be worse as the retail prices for the product have failed to recover over the past two weeks.
Product |
Price ($/mt) |
|
Ereğli |
Gebze |
|
2-12 mm HRC |
500-520 |
510-530 |
1,5 mm HRS |
530-560 |
540-570 |
3-12 mm HR P&O |
550-570 |
560-580 |
0,6 mm CRC |
600-610 |
610-620 |
0,7-2 mm CRC |
560-570 |
560-580 |