Domestic demand in the local Turkish flat steel spot market have remained limited and has resulted in a $10/mt price decrease due to pressure from buyers. In addition, sellers currently have in stock low-priced flats produced in December, which provides some room for discounts while keeping margins at satisfactory levels. However, traders are not eager to grant bigger discounts as mills’ hot rolled coil prices are relatively stable for now. Moreover, products for January-February deliveries were booked at much higher prices.
Traders report that some Turkish mills are still selling for March production and that sentiment in the market is characterized by a lack of clarity. On the one hand, higher hot rolled coil prices in the EU may support Turkish exports, while on the other hand lower scrap prices are expected to put pressure on the flats segment. The sellers in the spot market who believe prices will weaken in the short term are nowadays more flexible in offering discounts.
In the past week, prices have decreased by $10/mt for hot rolled coil (HRC), hot rolled pickled and oiled (HR P&O) and cold rolled coil (CRC) materials.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
500-510 |
510-520 |
|
1,5 mm HRS |
530-540 |
535-565 |
|
3-12 mm HR P&O |
550-560 |
570-590 |
|
0,6 mm CRC |
620-630 |
630-640 |
|
0,7-2 mm CRC |
590-610 |
600-620 |