Another price reduction has been observed in Turkish hot rolled sheet prices over the past week as a result of slow demand, decreasing prices in the hot rolled coil (HRC) segment, and negative sentiment in the scrap sector. In contrast, cold rolled sheet prices have remained stable but with discounts available for serious buyers.
Furthermore, market participants anticipate that retail prices will continue their downward trends in the near future amid the depressed outlook for the market considering the economic situation in the country and the upcoming second round of the presidential election.
“Prices are falling and demand is still poor, even though phone communication is very good, yet this is not reflected in the order. Besides, due to currency fluctuations, we have decided to continue to sell in Turkish liras,” a large trader told SteelOrbis.
Over the past week, domestic hot rolled sheet prices have decreased by $10/mt to $770-800/mt ex-warehouse. On the other hand, cold rolled sheet pricing has remained constant from last week with most traders quoting prices at around $850-900/mt ex-warehouse. Meanwhile, some smaller traders are still selling at aggressive levels of around $800-820/mt ex-warehouse.
