Pressure from buyers and fluctuations in the Turkish lira-US dollar exchange rate have caused lower prices in the Turkish flat steel spot markets in the last two weeks. "We have had a demand problem since the beginning of the Covid-19 outbreak and even before. Today, demand is still insufficient and buyers did not accept previous levels. Most traders have wanted to sell their stocks and convert them into cash, while the changes in the lira-dollar exchange rate have also affected trade and prices negatively," a trader told SteelOrbis.
"Prices have decreased, but stock levels are low in the market. Low-cost stocks are mostly off the market and traders have not renewed their stocks properly because of the high prices from producers, and we expect problems in availability in the Turkish flat steel spot markets. Because of this outlook, we do not expect sharp price decreases in the spot market," another trader told SteelOrbis.
Prices have decreased by $10/mt for HRC, by $5/mt for hot rolled pickled and oiled materials and by $15/mt for CRC since last week.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
530-560 |
540-560 |
|
1.5 mm HRS |
560-590 |
570-600 |
|
3-12 mm HR P&O |
570-590 |
580-600 |
|
0.6 mm CRC |
640-650 |
640-660 |
|
0.7-2 mm CRC |
600-610 |
600-620 |