Even if general sentiments remain pessimistic considering insufficient demand and internal financial problems that continue to be an ongoing issue for both buyers and sellers, Turkish flat steel traders have chosen to keep prices stable over the past week. Market insiders report that the hot rolled coil (HRC) sector is still solid, while stability is also seen in the scrap market. As a result, spot prices remain unchanged, but the forecasts for the coming months are still bearish.
“I am hearing that there may be a decrease in Turkey in the coming weeks, but the situation is ambiguous since HRC and scrap prices remain stable, while there is currently major congestion in terms of demand, which is placing a serious strain on the market,” a trader commented to SteelOrbis.
In accordance with this week's feasible prices, which are at $660-690/mt ex-warehouse, bigger dealers are reported to be offering at about $680-690/mt ex-warehouse, while medium-sized and smaller traders are offering at roughly $660-670/mt ex-warehouse.
Meanwhile, in the cold rolled sheet segment, most sellers have decided to keep offers stable at $760-795/mt ex-warehouse compared to the previous week.