Insufficient demand, consistently declining local hot rolled coil (HRC) and scrap prices, as well as the unpredictable currency situation and expectations for clearer import offers are still behind the lack of movement in Turkey’s retail flats market. Traders have kept their hot rolled sheet (HRS) offers stable, while reducing their cold rolled sheet (CRS) prices.
“We are experiencing poor sales and so we are lowering prices gradually every day,” a large trader told SteelOrbis
By the end of the current week, the workable domestic hot rolled sheet (HRS) prices have remained stable week on week at $800-830/mt ex-warehouse. Although traders have decided to put their offers on hold, they are still ready to negotiate discounted prices for serious buyers. In contrast, some medium-size traders are attempting to offer $880/mt ex-warehouse, which they acknowledge is a higher level and hence unworkable.
On the other hand, in the cold rolled sheet (CRS) market, most traders are offering at around $875-930/mt ex-warehouse, versus $900-930/mt ex-warehouse seen last week. Some smaller sellers and re-rollers are reported to be be selling aggressively at $850-860/mt ex-warehouse this week.