In the local Turkish flat steel market, prices have remained stable and demand is still low since last week. Market activity is slow because buyers think a further decline in prices is on the way and they are exerting pressure on spot prices. On the other hand, traders are not willing to give further discounts because producers' prices are mostly stable nowadays. Stocks are still low in the spot market, but, in the event of more price decreases on the producers' side, panic sales are very likely in the spot market. "We do not see any reason for price declines now, but buyers insist on discounts. They say more imports of Chinese HRC are on the way but the Chinese New Year holiday is coming and nobody is sure if China will continue to export at lower prices after the holiday. Also, we do not see more discounts on producers' prices. We should follow them, otherwise we will continue to see a lot of material availability problems. Some companies are already in panic mode and the spot market is afraid of panic sales. If panic sales begin, everyone will lose. They can give profit because the cost of stock materials is low, but everybody must restock and we can not restock our material at the prices in November 2020," a trader told SteelOrbis.
Spot prices for CRC, HRC and HR pickled and oiled materials have not changed since last week.
Product |
Price ($/mt) |
|
Ereğli |
Gebze |
|
2-12 mm HRC |
800-830 |
810-830 |
1.5 mm HRS |
830-860 |
840-870 |
3-12 mm HR P&O |
880-900 |
890-910 |
0.6 mm CRC |
1030-1040 |
1030-1050 |
0.7-2 mm CRC |
1000-1010 |
1000-1020 |