This week, Turkish flat steel traders have chosen to maintain prices unchanged since the market has indicated no significant movement, while the hot rolled coil (HRC) segment has been stable. However, due to the ongoing slow trade in the domestic market, the majority of market participants do not see any positive signs. Additionally, the approaching holiday is predicted to cause the market to remain quiet and sales to slacken further in the coming weeks.
“Demand is still low, but prices have remained stable. I believe that, until the market shifts in a different direction with greater demand, we will continue to discuss the same depressing outlook for weeks or perhaps months,” a trader told SteelOrbis.
This week's workable prices are at $580-600/mt ex-warehouse, with the bigger traders reported to be offering at about $600/mt ex-warehouse, while medium-sized and smaller traders are offering at roughly $580-590/mt ex-warehouse.
Meanwhile, in the cold rolled sheet segment, most sellers have decided to keep offers stable at $700-740/mt ex-warehouse compared to the previous week.