Given the weakening mood in the hot rolled coil (HRC) market and fluctuations in the scrap segment, pressure on prices in Turkey’s flat steel sport market has intensified. However, traders have mostly managed to maintain prices unchanged over the last week. Since demand has not improved and continues to be sluggish, larger traders have begun to make slight price cuts this week.
“In contrast to HRC mills’ prices, spot market prices remain firm, but the market position appears to be sensitive due to a lack of demand,” a trader told SteelOrbis
This week's workable prices are at $640-660/mt ex-warehouse, with the bigger traders reported to be offering at about $660/mt ex-warehouse, while medium-sized and smaller traders are offering at roughly $640-650/mt ex-warehouse. However, due to slower trade and softening signals in the market, larger traders provide $5/mt discounts.
Meanwhile, in the cold rolled sheet segment, most sellers have decided to keep offers stable week on week at $750-790/mt ex-warehouse.
