Although trade has remained low, not supporting price rises, flat steel spot traders in Turkey have decided to increase hot rolled sheet (HRS) prices while keeping cold rolled sheet (CRS) prices stable, week on week. According to market participants, the increase was unavoidable due to the impact resulting from solid hot rolled coil (HRC) prices and the strengthening scrap market, but it continues to be difficult to trade amid the gloomy outlook for demand.
“We made a $5/mt rise, but purchasers are unwilling, and, regrettably, demand is diminishing day by day, which does not bode well for future days,” a large trader commented to SteelOrbis
As a result, this week's workable domestic hot rolled sheet prices have risen by $5-10/mt week on week to $740-755/mt ex-warehouse. However, given the lack of demand, certain traders have offered the formerly low prices of roughly $730/mt ex-warehouse to draw customers' attention.
On the other hand, the cold rolled sheet market has remained quiet, with prices stable at around $850-880/mt ex-warehouse compared to the previous week. However, a few suppliers are still offering noticeably above the acceptable levels, at $890-900/mt ex-warehouse.
