Over the past two weeks, prices have increased very sharply in the Turkish spot flat steel market but demand has once again failed to recover. Due to the holiday period and the uncertain outlook in the market, trade has remained at very low levels. However, the increases in producers' prices and low spot market stocks have caused prices to soar. Buyers are still cautious and they are only buying in line with their urgent needs. Despite the increasing trend in the prices, demand is not expected to recover much in the short run.
"We have increased our prices based on producers' offers and low stocks. We do not expect to see any recovery in stocks because traders have also ordered in very low amounts for the summer period due to high prices and currency fluctuations. We think material availability will continue to be a problem in the market in the summer period. Buyers are cautious and they still insist on discounts, but we are not able to give them. We also have to renew our stocks at the current levels and $1,200/mt ex-works offers have already started to be heard in the market," a trader told SteelOrbis.
Over the past two weeks, prices have increased by $100/mt for CRC and HR pickled materials, and by $190/mt for HRC materials.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
1,200-1,270 |
1,260-1,280 |
|
1.5 mm HRS |
1,280-1,300 |
1,270-1,300 |
|
3-12 mm HR P&O |
1,250-1,270 |
1,260-1,290 |
|
0.6 mm CRC |
1,530-1,540 |
1,530-1,550 |
|
0.7-2 mm CRC |
1,500-1,510 |
1,500-1,520 |