Prices in the Turkish flat steel spot market have increased by $10-30/mt since last week. Moreover, the demand has also recovered over the same period. Stock levels have continued to decrease and buyers have once again faced certain difficulties to obtain their needs from the spot market. In addition, traders still have undelivered orders from December and January from the producers, which is the main reason for the lower stocks in the market.
Many believe spot prices will increase further because local producers have not reflected the increase in scrap prices in their offers. In addition, China is expected to make a relatively positive return after the holiday. "Stocks are low and buyers are again in panic mode. Under-received volumes are really a negative point for us for now because, when our customers have demand, we want to reply. On the other hand, if stocks were high at the moment, we are sure that we would not see the current demand. Low stocks have protected us from the sharp declines in the last month and now they are helping us to increase our prices even before the producers," a trader told SteelOrbis.
Spot prices for HRC materials and HR pickled and oiled materials have increased by $10/mt and $30/mt for CRC materials, week on week.
|
Product |
Price ($/mt) |
|
|
Ereğli |
Gebze |
|
|
2-12 mm HRC |
790-820 |
800-820 |
|
1.5 mm HRS |
820-850 |
830-860 |
|
3-12 mm HR P&O |
860-880 |
870-890 |
|
0.6 mm CRC |
1,050-1,060 |
1,050-1,070 |
|
0.7-2 mm CRC |
1,020-1,030 |
1,020-1,040 |