Given the continuing stability of hot rolled coil (HRC) prices, flat steel spot traders in Turkey have also decided to keep their offers stable week on week. However, the minor price fall in the scrap market and rising domestic expenditures have raised concerns for the coming month. As a consequence, while the majority of traders have chosen to wait and watch the market evolve, a few traders have decided to cut prices to attract the attention of buyers.
“Since it is the end of the year, demand has fallen significantly and things have been quiet this week, but we continue to maintain unchanged prices in response to the market's stable state. Towards the middle of January, we will have a clearer understanding of how the situation will progress,” a larger trader commented to SteelOrbis.
Over the past week, workable domestic hot rolled sheet pricing has remained unchanged at around $730-740/mt ex-warehouse. However, as previously said, a few traders provide discounts and are offering at approximately $710-720/mt ex-warehouse to attract potential customers.
The domestic cold rolled sheet market has also been stable this week, with most traders quoting at around $840-880/mt ex-warehouse, unchanged from the previous week.
