Over the past week, while activity in the Turkish domestic hot rolled coil (HRC) market has remained slow and Chinese HRC offers have fluctuated, Turkish mills’ HRC prices have remained stable, causing the Turkish flat steel spot market to continue to move sideways also. Even though the scrap market has continued to show signs of improvement this week and the Metal Expo fair is currently taking place in Istanbul (September 11-14), which is expected to have a positive impact on demand, traders have not seen any encouraging signs to adjust prices or restock.
“This week, we had a bit more hope because the scrap market was moving and we assumed that, with the fair starting, there could be more demand. Sadly, the fair is very quiet” one of the bigger traders told SteelOrbis.
According to reports, the workable domestic hot rolled sheet prices are currently the same as last week’s prices at $600-620/mt ex-warehouse. Likewise, most traders in the cold rolled sheet market have maintained their pricing at the previous levels of $720-750/mt ex-warehouse.
