With support from local producers' higher prices and low market stocks, Turkish flat steel spot prices have increased once again after a one-week break. The fluctuation of the Turkish lira has caused demand to decline this week but, due to availability problems, the weaker business activity has not brought down prices for flat steel, or at least not just yet.
"We did not face any serious demand problems until yesterday but, after the Turkish lira lost value dramatically, trade in the spot market also declined strongly. Producers have sold their production until July, and even until August for some products, and we do not expect any serious price decline in the short term. Maybe we will see only some slight corrections in prices," a trader told SteelOrbis.
Spot prices have increased by $20/mt for HRC, $10/mt for HR pickled materials and $30 for CRC and materials, week on week.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
920-950 |
930-950 |
|
1.5 mm HRS |
950-980 |
960-990 |
|
3-12 mm HR P&O |
1,010-1,030 |
1,020-1,040 |
|
0.6 mm CRC |
1,260-1,270 |
1,260-1,280 |
|
0.7-2 mm CRC |
1,230-1,240 |
1,230-1,250 |