Demand in Turkey’s flat steel spot market has revived over the past two weeks, supported by mills being bullish in their hot rolled coil offers. As a result, buyers have chosen to restock now thinking traders’ prices will increase. With the livelier trade, stocks in the Turkish market have decreased to a moderate level, whileprices have gained $30/mt for HRC and CRC and $20/mt for pickled and oil coils.
“We had to wait a long time to reflect the price increases of producers in our prices because of the high stock levels. But now the new prices are accepted by buyers and we believe they may increase a little further because there’s still demand,” a trader told SteelOrbis.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
470-490 |
480-500 |
|
1.5 mm HRS |
500-530 |
510-540 |
|
3-12 mm HR P&O |
510-530 |
530-550 |
|
0.6 mm CRC |
590-600 |
600-610 |
|
0.7-2 mm CRC |
550-560 |
550-570 |