Once again, given the lack of noticeable favorable developments in the local market, Turkish flat steel spot traders have decided to keep their offers stable week on week. Although some positive signs have been in the scrap market during the week, due to the main issue of ongoing low demand the majority of traders do not believe prices will rise but will remain at current levels.
“Nothing has really changed in the market. We are doing our best to keep our offers stable, but demand is still slow,” a trader told SteelOrbis.
As a result, workable domestic hot rolled sheet prices are quoted at $600-620/mt ex-warehouse, unchanged week on week. Reports state that bigger traders are offering at around $620/mt ex-warehouse, while smaller and medium-sized traders are offering at $600-610/mt ex-warehouse.
In the cold rolled sheet market, offers have remained stable compared to last week at around $720-750/mt ex-warehouse. However, a few traders have offered lower prices at around $700-710/mt ex-warehouse.
