Turkish flat steel retailers have kept increasing their prices as a result of improvements in the hot rolled coil (HRC) and scrap segments. According to these positive factors, demand was expected to improve this week, but business activity has remained sluggish.
"Prices climbed this week, and I believe they will continue to rise, although this week was not very active, almost quiet." a medium-sized trader told SteelOrbis.
By the end of the current week, workable domestic hot rolled sheet (HRS) prices have risen to $900-930/mt ex-warehouse, up by $30/mt since last Friday. Some of the smaller traders are trying to offer $950/mt ex-warehouse, which is not viable under existing market conditions but is likely to be acceptable in the coming weeks.
Additionally, many traders are concerned about the sustainability of the present pricing when the earthquake-affected mills resume operations.
"I believe prices will remain at this level for the foreseeable future. Because there is not much available in the market and Işdemir is not operating, the prices seem to have support for the time being. Nonetheless, I believe that prices will fall in the medium term as the market material becomes more available," a larger retailer told SteelOrbis
In the cold rolled sheet (CRS) market, most traders are offering at around $1,000-1,020/mt ex-warehouse, versus $980-1,000/mt ex-warehouse seen last week.
