Turkish flat steel spot market sees sluggish demand and lower prices

Tuesday, 08 June 2021 17:21:37 (GMT+3)   |   Istanbul
       

Business activity in Turkey’s flat steel spot market remains subdued while prices have seen another decline over the past week. Demand has been at very low levels, mainly due to currency fluctuations and certain liquidity issues. Still, a lot of market players said that the price decrease could be a sharper one, but the downtrend for now is restricted by the low stock levels in the spot market. “The one and only support comes from low stocks. Material availability continues to be a problem and prevents prices from recording further decreases. Buyers also insist on lower prices, but we do not see any further big decrease in producers' prices at the moment," a trader told SteelOrbis.

However, a lot of sources are optimistic about the upcoming period. Many traders think the current trend of prices will not last long, but that on the contrary prices will rise again. Demand remains strong especially in Turkey’s target markets and they believe producers will sell higher volumes for October and November. As a result, as availability of material is expected to remain an issue, local buyers may also be more willing to restock in the retail market.

Over the past two weeks, prices have declined by $10/mt for HR pickled materials, by $40-50/mt for HRC, and have not changed for CRC materials.

Product

Price ($/mt)

Ereğli

Gebze

2-12 mm HRC

1,110-1,140

1,130-1,150

1.5 mm HRS

1,160-1,180

1,180-1,190

3-12 mm HR P&O

1,200-1,220

1,210-1,240

0.6 mm CRC

1,500-1,510

1,500-1,520

0.7-2 mm CRC

1,450-1,500

1,450-1,500

 


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