Despite the persistent uncertainty surrounding business activities, Turkish flat steel spot traders have maintained the same price levels as last week, since the hot rolled coil (HRC) market has remained stable. However, certain traders selling at the upper end of feasible prices have said they intend to offer discounts if customers are serious and the tonnage is satisfactory. On the other hand, market players believe that the lack of demand is felt not just by sellers but also by consumers owing to the bleak economic and financial outlook in Turkey.
“The demand side continues to remain low for us, but according to information we receive from clients it is also very low for them. However, as HRC producers continue to maintain offers unchanged, we will keep our flat steel spot pricing stable,” a large trader told SteelOrbis
As a result, workable domestic hot rolled sheet prices are stable week on week at around $730-750/mt ex-warehouse. Though most traders are trying to minimize price reductions, a few traders are still attempting to boost trade by providing lower-than-workable levels at $720/mt ex-warehouse.
Prices in the cold rolled sheet market have remained unchanged from the previous week, at $840-880/mt ex-warehouse.
