Despite efforts to raise hot rolled coil (HRC) prices slightly, Turkish flat steel spot prices, particularly in the hot rolled sheet segment, have fallen over the past week. The decrease has mainly been seen from bigger traders, while medium-sized and smaller traders have decided to keep offers stable, as before. According to market players, the outlook is still negative amid the ongoing sluggish demand and declining scrap prices. As a result, the majority of players think it is difficult to envision buyers agreeing to price increase attempts.
“With the start of the new year, business activities have not altered, with minimal activity and demand remaining sluggish. Although HRC producers want to increase prices, owing to the dismal outlook this is unlikely, and we have heard that they are providing discounts to serious buyers,” a trader told SteelOrbis
As a result, workable domestic hot rolled sheet prices have decreased by $10/mt week on week to $580-600/mt ex-warehouse. According to market players, while small and medium-sized traders have offered at around $580-600/mt ex-warehouse, bigger traders are offering at roughly $600/mt ex-warehouse.
Meanwhile, in the cold rolled sheet market, the majority of traders have quoted the same offers as last week at $720-740/mt ex-warehouse. However, according to sources, some smaller suppliers are attempting to offer lower prices than the overall market levels at $700-710/mt ex-warehouse.
Currently, local producers’ HRC prices in Turkey are now at about $560/mt ex-works, while their cold rolled coil prices are at $680-700/mt ex-works.
