In this week's Turkish domestic flat steel market, local producers have started to accept orders for their January production, while gradual price decreases have persisted.
The general consensus in the market suggests that flat steel prices will further soften by about $10-20/mt up to the end of this year, reaching bottom levels. However, with the start of 2012, it is predicted that the market will see increased activity and that hot rolled coil (HRC) prices, which stand at $620-630/mt ex-works currently, will rise.
In the Turkish domestic flat steel spot market, traders are trying to maintain their prices. While traders seek to keep their HRC prices at $670-680/mt ex-warehouse, for 60-day deferred payments, for advance payments HRC spot prices may decrease to $650-660/mt ex-warehouse. In the meantime, cold rolled coil (CRC) spot prices are standing at the price range of $770-800/mt ex-warehouse. Seeking to avoid increases in their inventory levels, traders are currently adopting a cautious approach as regards purchases of material in larger tonnages.