This week, Turkish flat steel spot traders have decided to cut their offer prices, having failed to resist the pressure from the very weak outlook and from the soft trend of the hot rolled coil (HRC) market. Nevertheless, market participants report that, despite the lower prices, flat steel trade has not improved this week and remains sluggish.
The workable domestic prices for hot rolled sheets have decreased by $10/mt week on week to $600-620/mt ex-warehouse. According to reports, bigger traders offer at roughly $620/mt ex-warehouse, but medium-sized and smaller traders offer in the range of $600-610/mt ex-warehouse.
In the meantime, this week’s official HRC prices in Turkey's domestic market have been reported at $570-580/mt ex-works.
Similarly, the general range of domestic cold rolled sheet prices has weakened by $10/mt from last week to $740-770/mt ex-warehouse, while, in order to attract more attention from consumers, some smaller traders have been making aggressive offers at $730/mt ex-warehouse.
