Prices have increased $20-30/mt in the past two weeks in the Turkish flat steel spot markets and demand has continued to recover in the same period. Market sources state that demand is at moderate levels but that stocks in the market are at high levels. " We have increased our prices due to higher scrap and hot rolled coil prices in the country. Demand is not bad as in previous months but stocks are high and they cause demand to be limited. As long as buyers know they can buy at any moment what they want, demand will not recover completely," one trader told SteelOrbis. "Fluctuations in the US dollar-Turkish lira exchange rate, the instability in the economic outlook and higher stocks are big problems in the market and, as a result, we have the same price levels as flat steel producers. We cannot renew our stocks right now because we cannot increase our prices anymore. Buyers are exerting pressure on our prices and expect discounts, but flat steel producers may increase their prices further," another trader told SteelOrbis.
In the past two weeks, prices in the local Turkish spot market have increased by $30/mt for HRC and hot rolled pickled and oiled materials and by $20/mt for CRC.
Product |
Price ($/mt) |
|
Ereğli |
Gebze |
|
2-12 mm HRC |
540-570 |
550-570 |
1.5 mm HRS |
570-600 |
580-610 |
3-12 mm HR P&O |
580-600 |
590-610 |
0.6 mm CRC |
650-660 |
650-670 |
0.7-2 mm CRC |
610-620 |
610-630 |