Prices in the Turkish flat steel spot market have declined by $20-50/mt since last week due to low demand and uncertainties in the market. Price inquiries continue to be made in the market but most buyers are only inquiring about price levels every day and do not want to buy any material because of the unclear price trend in the Turkish flat steel market. Scrap prices have remained strong and also hot rolled coil prices have maintained their levels despite the pressures from the buyers. Meanwhile, low-priced HRC imports from China ($730-740/mt CFR, March delivery) have caused great panic in the spot market. On the other hand, availability of material is still a problem in the market and spot stocks continue to be low. Availability problems on the supply side are not expected to ease before at least mid-February and this situation is expected to prevent prices from recording possible sharp declines. "Buyers have mostly covered their urgent needs, and now they are reacting to the sharp price increases in the spot market. But stocks are still low and also producers' prices are strong. Today, we do not see any difference between traders' and producers' prices, both are at $800/mt. We have returned to unhealthy market conditions and, if we can not achieve a balance soon, we will see another crisis regarding material in the summer-spring period again. Because again it is not possible for traders to order now for April and May," a trader told SteelOrbis.
Prices have decreased by $50/mt for CRC and by $20/mt for HRC and HR pickled and oiled materials over the past week.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
800-830 |
810-830 |
|
1.5 mm HRS |
830-860 |
840-870 |
|
3-12 mm HR P&O |
880-900 |
890-910 |
|
0.6 mm CRC |
1030-1040 |
1030-1050 |
|
0.7-2 mm CRC |
1000-1010 |
1000-1020 |