With support from high demand and low stocks, Turkish flat steel spot prices have increased by $20-40/mt over the past week. Many buyers have been in panic mode because of the low inventories in the spot market and demand has increased rapidly, while it is generally believed the prices have yet to hit their highest realistic level and new increases are already on the way. "Stocks are low and prices are again on an uptrend for flat steel, not only in Turkey but also in the global markets. Raw material prices are on the rise also. Actually, we believe that low stocks are not good for traders either, because we do not have so much material to sell. On the other hand, we believe that prices would increase also with normal stock levels in this market," a trader told SteelOrbis. It is also reported that traders have started to exert pressure on flat steel producers in order to receive their orders booked in previous months.
Spot prices have increased by $20/mt for CRC materials, by $30/mt for HRC materials and $40/mt HR pickled, week on week.
Product |
Price ($/mt) |
|
Ereğli |
Gebze |
|
2-12 mm HRC |
820-850 |
830-850 |
1.5 mm HRS |
850-880 |
860-890 |
3-12 mm HR P&O |
900-920 |
910-930 |
0.6 mm CRC |
1,070-1,080 |
1,070-1,090 |
0.7-2 mm CRC |
1,040-1,050 |
1,040-1,060 |