Flat steel spot prices in Turkey have moved down by $10-90/mt over the past two weeks depending on the product, due to low demand and the cautious mood regarding the trends in the import scrap segment and local mills’ flats offers. Following the declines in the Chinese market and the aggressive ex-Asia offers to the Mediterranean region, sentiment in Turkey’s hot rolled coil (HRC) segment has weakened, exerting pressure on prices. Producers' coated steel and cold rolled coil (CRC) prices have also declined over the same period and traders have had to follow the same trend.
"If our stocks were not low we could see even lower prices. Demand is really bad in the market and prices are record high. Everybody worries not only about prices but also about the current Turkish lira-US dollar exchange rate, which fluctuates almost every day. Buyers seek lower prices and traders are trying to maintain current levels. Only stock levels can help prices at the moment. The materials with lower stocks have higher prices," a trader told SteelOrbis. The spot market also expects prices to decrease further in the coming period due to aggressive import offers for HRC.
Prices have declined by $10-90/mt for CRC, by $40/mt for HR pickled materials, and by $50-90/mt for HRC materials over the past two weeks.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
1,150-1,180 |
1,170-1,200 |
|
1.5 mm HRS |
1,200-1,220 |
1,220-1,230 |
|
3-12 mm HR P&O |
1,210-1,230 |
1,220-1,250 |
|
0.6 mm CRC |
1,500-1,510 |
1,500-1,520 |
|
0.7-2 mm CRC |
1,450-1,500 |
1,450-1,500 |