In the Turkish flat steel spot market, prices have increased by $50-80/mt since last week, while demand has remained strong. Material availability has remained as the biggest problem in the market and increases in producers' prices have caused new price increases also in the spot market in Turkey. Due to record low stock levels in the spot market, prices are expected to remain strong and new increases are expected. "We have high demand, strong producer prices and really low stock levels. In this situation, prices are increasing sharply and we do not expect any negative development in the market at least for two to three months because it is not possible to increase stock levels before then," a trader told SteelOrbis.
Prices have increased by a total of 40-50 percent since the beginning of 2020 and by 30-40 percent since the start of November for flat steel spot materials in Turkey.
Since last week, local spot prices have increased by $80/mt for CRC and by $50/mt for HRC and hot rolled pickled and oiled materials.
Product |
Price ($/mt) |
|
Ereğli |
Gebze |
|
2-12 mm HRC |
750-780 |
760-780 |
1.5 mm HRS |
780-810 |
790-820 |
3-12 mm HR P&O |
800-820 |
810-830 |
0.6 mm CRC |
960-970 |
960-980 |
0.7-2 mm CRC |
930-940 |
930-950 |