Flat steel spot prices in Turkey have decreased by $20-30/mt over the past month, under pressure from low business activity. Stocks have also remained at minimal levels and the product availability problem still exists in the market. Despite the decreases in scrap prices, hot rolled coil (HRC) producers in Turkey have managed to avoid sizeable discounts. Traders are unwilling to give further discounts before HRC producers adjust their prices downwards. However, the buyers in the spot market believe prices will decrease and they continue to exert pressure on sellers.
"We have insufficient stock levels and producers' HRC prices are still not falling in Turkey. We already gave discounts, while the producers kept their prices stable. But further discounts are now impossible for us," a trader told SteelOrbis.
Prices have decreased by $30/mt for HR pickled materials, $20/mt for CRC and HRC materials over the month.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
1,080-1,110 |
1,100-1,120 |
|
1.5 mm HRS |
1,130-1,150 |
1,150-1,160 |
|
3-12 mm HR P&O |
1,130-1,150 |
1,140-1,170 |
|
0.6 mm CRC |
1,390-1,410 |
1,400-1,420 |
|
0.7-2 mm CRC |
1,350-1,370 |
1,360-1,390 |