Local Turkish flat steel spot prices move down

Friday, 16 October 2020 14:15:52 (GMT+3)   |   Istanbul
       

Prices in the local Turkish flat steel spot market have declined by $10/mt since last week, while demand has also decreased despite low stock levels. "After the restocking period, buyers have started to exert pressure on prices and many traders have given discounts to continue their sales," a trader told SteelOrbis.

On the other hand, discounts have not helped the demand in the market, which has declined rapidly since the restocking activity. "We are not able to restock because flat product producers' prices are strong. In this situation, we think we will have great problems with stocks and lower trading activity in the coming months. Another problem is the Turkish lira-US dollar exchange rate. Due to the weaker lira, higher prices are not workable in the market and buyers are exerting pressure on prices as always. Most traders are trying to convert their stocks into cash because of the economic uncertainty," another trader told SteelOrbis.

Since last week, local spot prices have decreased by $10/mt for HRC, CRC and hot rolled pickled and oiled materials.

Product

Price ($/mt)

Ereğli

Gebze

2-12 mm HRC

530-560

540-560

1.5 mm HRS

560-590

570-600

3-12 mm HR P&O

570-590

580-600

0.6 mm CRC

650-660

650-670

0.7-2 mm CRC

610-620

610-630

 


Similar articles

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

MOC: Average steel prices in China down slightly during Mar 18-24

28 Mar | Steel News

Cleveland Cliffs announces US flat rolled steel increase

27 Mar | Flats and Slab

HDG consumption in Mexico up 12.0 percent in January

27 Mar | Steel News

Ex-China CRC offer prices fail to recover amid futures price drop

27 Mar | Flats and Slab

UAE’s HRC market still sluggish, offers from India fall slightly

27 Mar | Flats and Slab

Turkey’s plate prices fall amid lower HRC prices, weaker demand

27 Mar | Flats and Slab

Import HRC prices in Vietnam retreat again due to slump in China

27 Mar | Flats and Slab

Silicon steel sheet prices in local Chinese market - week 13, 2024

27 Mar | Flats and Slab

Vietnam’s Hoa Phat produces nine millionth mt of HRC

27 Mar | Steel News