Domestic flat steel prices in the Turkish spot market have decreased by $10-20/mt over the past week, under pressure from low demand and the downturn in the raw materials segment. "Lower scrap prices have caused buyers to exert pressure on traders’ offers [for flats]. We couldn't reflect the mills’ price rise in our offers due to low demand, but now we have had to cut prices even before producers provide discounts,” a trader told SteelOrbis.
Traders’ positions in the Turkish market are also coming under pressure as nowadays they are receiving materials purchases earlier at higher price levels and so the average cost of stock is increasing while sales prices have dropped. “We think the outlook will be very problematic for the market if prices decrease further," another trader said.
Prices have decreased by $20/mt for HRC and HR pickled and oiled coils, and by $10/mt for cold rolled coils.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
450-470 |
460-480 |
|
1.5 mm HRS |
480-510 |
490-520 |
|
3-12 mm HR P&O |
490-510 |
510-530 |
|
0.6 mm CRC |
580-590 |
590-600 |
|
0.7-2 mm CRC |
540-550 |
540-560 |