Business activity in the Turkish retail flats market has been slow for several weeks now due to high average stock costs and the persistent lack of demand. This week, retailers have chosen to keep their prices stable, given the relative stabilization seen on the producers’ side. Furthermore, the majority of traders have been unwilling to restock since they are struggling to sell previously purchased materials.
The workable domestic hot rolled sheet prices are currently the same as last week’s prices at $670-700/mt ex-warehouse. Likewise, most traders in the cold rolled sheet market have maintained their pricing at the previous levels of $780-815/mt ex-warehouse.
“There is still no rise in demand. Stocks are full, HRC prices are falling every week, and it is expected that HRC will fall further to $550/mt” a trader told SteelOrbis.
This week, mills in Turkey have been offering at $620-640/mt ex-works for HRC, while in the import segment deal prices for sanctioned ex-Russia material have been at as low as $520-535/mt CFR.