This week, Turkish flat steel spot traders have kept their offers unchanged, but some price hike attempts have been noticed in the hot rolled coil (HRC) market as scrap prices climb. Despite mills' efforts to increase HRC prices, the flat steel spot market outlook remains poor, with no optimism for any upward movement. Furthermore, as trade becomes weaker, some traders continue to offer greater discounts to serious buyers.
“No matter how much HRC producers want to increase prices, prices have stayed the same in the spot market since there is very little demand, which never encourages such a rise. Also, it seems that the increase will be a short-term unsuccessful increase,” one trader told SteelOrbis
According to reports, workable domestic hot rolled sheet (HRS) prices are currently at $570-595/mt ex-warehouse. While medium-size and smaller traders are offering at $570-580/mt ex-warehouse, bigger traders are offering at around $585-595/mt ex-warehouse.
Similarly, most traders in the cold rolled sheet (CRS) market have decided to keep prices stable week on week at $700-730/mt ex-warehouse.
However, according to sources, some suppliers are attempting to offer lower prices than the overall market levels for HRS and CRS, at $560-565/mt ex-warehouse and $690/mt ex-warehouse, respectively.
Currently, on the producers’ side, offers for HRC are at about $545-560/mt ex-works, whereas their earlier offers were at around $550-565/mt ex-works and their offers for cold rolled coil stood at around $670-700/mt ex-works.