Traders’ offers decrease in Turkish domestic flat steel market

After steel mills' price cuts, traders in the Turkish flat steel market have failed to maintain their offers and have had to reduce their quotations. Accordingly, traders' hot rolled coil (HRC) prices have declined by $10-30/mt, while HR P&O prices have moved down by $20/mt and cold rolled coil (CRC) offers have indicated a decrease of $10-20/mt.
 
Low demand and liquidity shortages have continued to be the major problems in the market, while it is considered to be quite difficult to prevent further falls in prices, despite the ongoing supply shortages.
 
Meanwhile, traders do not hesitate to make concessions in order to keep their customers, and so their willingness to extend payment deferral periods for some customers means that that are experiencing liquidity shortages. In the meantime, in the market, where demand has remained on the weak side, efforts are made to resolve the supply shortage issue by means of spot purchases from mills and traders.
 
The domestic sales prices of traders for local and imported hot and cold rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:

The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.