This week, Turkish flat steel traders have chosen to keep their offers unchanged amid stability in the hot rolled coil (HRC) market and the recent recovery of the scrap market. Despite the signs of a rebound in the scrap market, most flat steel spot traders do not expect a return will be possible in spot markets under the current circumstances. As a result of the persistent negative mood caused by sluggish demand, some traders have begun to offer discounts to drive sales.
“No matter how big of a decrease there has been, or how much of a recovery we have lately seen in scrap, the situation in the spot market remains unchanged due to sluggish demand. Although most traders try to keep prices stable as much as they can, some sellers provide lower prices in order to increase sales,” a trader said SteelOrbis.
According to reports, workable domestic hot rolled sheet (HRS) prices are currently at $600-615/mt ex-warehouse. While the medium-size and smaller traders are offering at $600-610/mt ex-warehouse, bigger traders are offering at around $615/mt ex-warehouse.
Similarly, most traders in the cold rolled sheet (CRS) market have decided to hold on to last week's prices at $710-740/mt ex-warehouse.
However, according to sources, some suppliers are attempting to offer prices lower than the overall market levels for HRS and CRS, at $590-595/mt ex-warehouse and $690-700/mt ex-warehouse, respectively.