Although the scrap market has softened and Chinese prices have fluctuated over the past week, the ongoing rising trend in the hot rolled coil (HRC) pricing and the announcement of antidumping duties have continued to influence Turkish flat steel spot prices. As a result, Turkish flat spot traders have continued to increase local offers, but market players report that demand has not improved and remains slow.
“Prices continue to rise and, despite low demand, prices remain strong, with no signs of slackening, so I believe there will be horizontal or rising movements rather than decreases from now on,” a trader told SteelOrbis
Workable domestic prices for hot rolled sheets are at $650-665/mt ex-warehouse, up $5/mt over the past week. According to the report, while bigger and medium-sized traders have been offering at around $660-665/mt ex-warehouse, smaller traders have preferred to remain at around $650/mt ex-warehouse.
In the meantime, domestic cold rolled sheets prices have risen by $20/mt to $770-790/mt ex-warehouse.
