The larger flat steel traders in Turkey have decided to raise their prices, as they have continued to receive steady demand and also due to the influence of rising hot rolled coil (HRC) pricing and the stronger scrap market.
“HRC producers upped their prices, so we raised ours a little further this week, and demand has remained decent, supporting prices. Other market participants, however, continue to sell materials at $670/mt ex-warehouse,” a bigger trader commented to SteelOrbis.
Meanwhile, medium-sized and smaller traders have continued to offer the same offers as in recent weeks, reflecting low-volume business activities.
“Our sheet prices remain unchanged from last week. We are unable to increase prices because demand is poor. We are currently waiting and watching the market developments,” a medium-sized trader told SteelOrbis.
As a result, feasible domestic hot rolled sheet prices have risen by $15/mt in the last week to $670-710/mt ex-warehouse. While bigger traders would rather offer at $700-710/mt ex-warehouse, medium-sized and smaller traders prefer offers at $670-680/mt ex-warehouse.
In the cold rolled sheet market, on the other hand, a similar trend has been seen, with current offers at $770-800/mt ex-warehouse, up from $770-795/mt ex-warehouse before.
