Customers’ activities have slackened further in the local Turkish spot flat steel market in the past week, while prices have increased slightly. Trade is reported to be extremely low amid the ongoing month of Ramadan and the lockdowns announced in the country. Moreover, market players do not expect demand to improve much until mid-May.
On the other hand, the current price levels are considered to be extremely high by buyers, especially while the financial outlook in Turkey remains negative for now. However, spot stocks in the market have remained low, while no significant rise in the supply is foreseen anytime soon. "Buyers and traders are cautious and, despite the low stocks, nobody is in a hurry to buy like before. As long as producers' prices remain strong we cannot offer discounts and we now see that prices are moving independently of demand," a trader told SteelOrbis. Some sources said they expect slightly better demand after the end-of-Ramadan holiday. However, they admit it is hard to make forecasts under the current market conditions.
Spot prices have increased by $20/mt for HR pickled materials, by $10/mt for HRC materials, and have remained unchanged for CRC materials, week on week.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
1,010-1,080 |
1,070-1,090 |
|
1.5 mm HRS |
1,090-1,110 |
1,080-1,110 |
|
3-12 mm HR P&O |
1,150-1,170 |
1,160-1,190 |
|
0.6 mm CRC |
1,350-1,360 |
1,350-1,370 |
|
0.7-2 mm CRC |
1,400-1,410 |
1,400-1,420 |