Even if expectations were greater following the recent holiday, traders in the Turkish flats market have had to keep their offer prices stable this week since the demand segment has remained sluggish. Other negative factors impacting the flat steel market include declining scrap prices and steady but unreliable hot rolled coil pricing (HRC) which has also been having an adverse effect on the spot market. Given the market's continuing gloomy outlook, market participants have said that a further price fall will be unavoidable in light of the above factors.
“Prices are unchanged and demand is silent with no movement in business activity. Unfortunately, if demand continues in this manner, prices will eventually fall due to a significant drop in demand,” a trader told SteelOrbis.
According to reports, pricing for domestic hot rolled sheets has been stable in recent weeks at roughly $730-770/mt ex-warehouse. Similarly, prices in the cold rolled sheet market have remained stable, with the majority of traders reporting prices at $800-850/mt ex-warehouse.
