In the local Turkish flat steel spot market, prices have increased by $30-60/mt since last week, while demand has remained strong. The increases in the scrap and hot rolled coil prices have also supported the flat steel spot market but the main support still comes from lower stocks and market availability problems. Stocks are at record low levels in the spot market and, in the best case scenario, stock problems will ease in February. In this situation, new prices have been accepted very quickly by buyers. "Sales are mostly closed in the spot market, because material availability is extremely low. Also, scrap and HRC prices continue to increase. When buyers meet their needs from traders, they accept prices because they know they will not be able to find alternative material soon," a trader told SteelOrbis.
Since last week, local spot prices have increased by $50/mt for CRC and $30/mt for HRC and by $60/mt for hot rolled pickled and oiled materials.
Product |
Price ($/mt) |
|
Ereğli |
Gebze |
|
2-12 mm HRC |
780-810 |
790-810 |
1.5 mm HRS |
810-840 |
820-850 |
3-12 mm HR P&O |
860-880 |
870-890 |
0.6 mm CRC |
1010-1020 |
1010-1030 |
0.7-2 mm CRC |
980-990 |
980-1000 |