Prices decrease in Turkish spot flat steel market

Thursday, 02 April 2020 18:05:06 (GMT+3)   |   Istanbul
       

Prices have decreased since last week while demand has remained very sluggish in the local Turkish flat steel spot markets. After Turkish flat steel producers decreased their prices, traders have followed suit and their offers have dropped by $10-20/mt for HRC, $30/mt for HR P&O and $10-20/mt for CRC in the spot market. But demand has almost stopped and additional discounts are still possible for real buyers. Most traders have been trying to sell their material to get cash.

“This is total chaos. We do not know how long the situation will continue. We do not know if we will replace our materials at proper prices after this pandemic. We are trying to keep cash to be more secure but it also means that we have to sell our material at lower than our purchase prices,” a trader told SteelOrbis. Another market participant commented, “Stocks are high and we have to sell but there is no demand. We do not know what we will do with our orders in production. We are fighting on two fronts. We have to find a solution both for our stocks and orders. We are also worried about long-term payments and hope that this situation will return to normal by the end of April.”

Product

Price ($/mt)

Ereğli

Gebze

2-12 mm HRC

470-490

480-500

1.5 mm HRS

500-530

510-540

3-12 mm HR P&O

510-530

530-550

0.6 mm CRC

600-610

610-620

0.7-2 mm CRC

560-570

560-580

Prices are for prompt delivery and advance payment. 


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