Local flat steel spot prices have increased in Turkey over the past two weeks by $20-30/mt and demand has recovered somewhat. Strong prices for raw materials and some limited flat product spot availability of stocks have triggered these developments. "Despite the fluctuations in the lira-dollar rate, we see better demand now. Stocks are really low in spot markets and problems of availability force buyers to purchase their needs faster. It is the main reason for the price increases," a trader told SteelOrbis.
On the other hand, the lira-dollar exchange rate and uncertainties in the economy have been exerting pressure on prices. "The economic outlook is really depressing, but we expect neither a solution for availability problems nor any increase in stocks. Producers' prices have been high for months and we have not been able to increase our prices accordingly. This situation has caused lower bookings and lower spot stocks in the market. Also, traders do not now have sufficient bookings from the producers and we will not receive enough material to ease the availability problems," another trader told SteelOrbis.
Since last week, local spot prices have increased by $20/mt for HRC, and $30/mt for CRC and hot rolled pickled and oiled materials.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
550-580 |
560-580 |
|
1.5 mm HRS |
580-610 |
590-620 |
|
3-12 mm HR P&O |
600-620 |
610-630 |
|
0.6 mm CRC |
680-690 |
680-700 |
|
0.7-2 mm CRC |
640-650 |
640-660 |