Against the backdrop of the New Year holiday, prices in the Turkish hot rolled coil (HRC) and scrap markets have remained relatively stable this week, but the outlook remains uncertain due to the ongoing sluggishness of local flat steel demand. The majority of traders have decided to maintain prices stable week on week amid the slackness of demand, preferring to monitor market developments and take action after the market revives in the coming weeks.
According to reports, workable domestic hot rolled sheet prices are currently at $580-610/mt ex-warehouse. While the medium-size and smaller traders are offering at $580-600/mt ex-warehouse, bigger traders are offering at around $610/mt ex-warehouse.
Similarly, most traders in the cold rolled sheet (CRS) market have decided to hold on to last week's prices at $720-740/mt ex-warehouse. However, according to sources, some smaller suppliers are attempting to offer lower prices than the overall market levels at $710/mt ex-warehouse.
