Despite continuing stability in the hot rolled coil (HRC) and scrap segments, flat steel spot traders have been forced to lower prices as a result of adverse effects, primarily from end-user demand and the financial difficulties in Turkey that continue to put pressure on both buyers and sellers. Even if the majority of traders have decided to lower their pricing, some other traders have continued to give prices that are far lower than the average range, though market players report that not much progress has been made in terms of business activity.
As previously stated, a few traders have given considerably lower offers for both domestic hot rolled sheets and cold rolled sheets to attract the attention of buyers. As a result, aggressive offers for hot rolled sheets are at around $670/mt ex-warehouse, while offers for cold rolled sheets are in the range of $740-760/mt ex-warehouse.
Meanwhile, throughout the past week, workable domestic hot rolled sheet pricing has decreased by $10-20/mt to $680-710/mt ex-warehouse. Similarly, in the cold rolled sheet segment, most sellers have reduced their offers from last week by $10-20/mt to $770-810/mt ex-warehouse.