This week,hot rolled sheet (HRS) prices in Turkey have continued to fall amid a lack of demand, while offers for cold rolled sheets (CRS) have remained unchanged as sellers are trying to avoid losses. Moreover, according to traders, the current difficult times will continue because the market is being weighed down by persistently unfavorable economic conditions, purchasing challenges, and cheaper hot rolled coil (HRC) prices from abroad.
“Demand is so low that we are trying to offer discounts, but in the meantime we are losing money day by day and are unable to turn a profit.” one trader told SteelOrbis
Workable domestic HRS prices are currently at $710-730/mt ex-warehouse, a $10-20/mt decrease from last Friday. However, some larger traders are attempting to sell at $740/mt ex-warehouse, which is not feasible in the present conditions. On the other hand, most traders in the cold rolled sheet market are still trading at $810-850/mt ex-warehouse, unchanged from last week.