The long-standing weak demand observed in the Turkish domestic flat steel market has led Turkish integrated steel producer Erdemir to cut its prices again, following its previous price decreases in early May.
Accordingly, Erdemir has decreased its hot rolled flat steel product prices by $30/mt and its cold rolled and galvanized product prices by $20/mt.
With these price cuts, Erdemir's hot rolled coil (HRC) prices have decreased to $650/mt, its hot rolled pickled and oiled (HR P&O) sheet prices are down to $690/mt, its cold rolled coil (CRC) prices have decreased to $760/mt, while its hot dip galvanized (HDG) prices are now being quoted at $800/mt, all ex-works. The prices in question may differ depending on specification and quality.
Including the producer's price cut in early May, Erdemir's hot rolled flat steel prices have now declined by a total of $70/mt, its cold rolled flat steel prices have moved down by $60/mt, while its HDG prices have decreased by an aggregate of $50/mt.