Prices for hot rolled steel products in Turkey have continued to decrease, while demand has remained rather weak. Buyers have continued to exert pressure in order to get bigger discounts, but low stocks and material availability problems provide support for suppliers and prevent sharp price declines. Many traders say they still have undelivered orders from December production and stock levels are not expected to increase at least until mid-March. "In the current market situation, it is better to keep spot stocks low, while also demand is really low and nobody is pushing producers to deliver their materials," a trader told SteelOrbis. "There is a great uncertainty in producers' prices and lower HRC offers are expected for May production. In this situation, buyers are aggressive and they demand lower prices, but traders have high-priced stocks and orders. Also, stock availability is problematic. Of course, there could be panic sales in the current market conditions, but many traders prefer to wait instead of concluding panic sales at the moment," another trader said.
Spot prices for hot rolled products have declined by $10/mt, while spot prices for HR pickled and oiled materials have declined by $20/mt. In the cold rolled segment the prices have not changed week on week.
Product |
Price ($/mt) |
|
Ereğli |
Gebze |
|
2-12 mm HRC |
780-810 |
790-810 |
1.5 mm HRS |
810-840 |
820-850 |
3-12 mm HR P&O |
850-870 |
860-880 |
0.6 mm CRC |
1,030-1,040 |
1,030-1,050 |
0.7-2 mm CRC |
1,000-1,010 |
1,000-1,020 |