Following the previous cut in prices by Turkish flat steel spot traders, trading activity has not improved over the past week. As a consequence, most traders have decided to keep their offers unchanged from last week, though some have continued to give price reductions to serious purchasers. In the meantime, the general mood remains depressed due to the lack of a recovery in the hot rolled coil (HRC) market and domestic economic concerns in Turkey.
Currently, workable domestic hot rolled sheet prices have remained stable week on week at around $600-620/mt ex-warehouse, while, as previously mentioned, some traders are seeking to attract buyers by providing discounts, of $10/mt.
In the cold rolled sheet market, however, the majority of sellers are offering at approximately $740-770/mt ex-warehouse, which is the same as in the previous week. According to sources, a few traders are looking for ways to increase their sales by offering at roughly $730/mt ex-warehouse.
