Prices have decreased by $10/mt since last week for hot rolled products in the Turkish flat steel spot market and demand has remained slow in the same period. Stocks are still low in the spot market and the problems of availability of products remains the same. Despite the strong pressure from buyers, prices have not seen dramatic declines thanks to the low stocks. But traders have remained pessimistic due to the latest transactions in the scrap market. Many believe lower-priced scrap deals will cause lower hot rolled coil prices on the producers' side and sooner or later prices will decline in the spot market too. "We are now experiencing a downtrend in prices in the spot market and most likely we will soon see lower prices. But there are still big problems in material availability and stocks are low. We believe spot prices cannot decline sharply in this situation," a trader told Steel Orbis.
Spot prices for HRC and HR pickled and oiled materials have declined by $10/mt and prices have not changed for CRC materials, week on week.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
790-820 |
800-820 |
|
1.5 mm HRS |
820-850 |
830-860 |
|
3-12 mm HR P&O |
870-890 |
880-900 |
|
0.6 mm CRC |
1030-1040 |
1030-1050 |
|
0.7-2 mm CRC |
1000-1010 |
1000-1020 |