Turkish flat steel retailers have maintained their pricing at unchanged levels, unsure if the improvement in the hot rolled steel (HRC) segment will be offset by this week's slight decline in the scrap market. Apart from that, business activities are still being severely impacted by the persistently sluggish demand for flat steel.
“HRC is continuing on an upswing globally, but flat steel business activities have dropped significantly. This week was almost silent. But even so, the favorable impacts worldwide will keep HRC strong and prices in the same range for the time being,” a trader told SteelOrbis.
As a consequence, traders chose to observe the market and wait this week, as conditions that may lead to a collapse have emerged.
Currently, workable domestic hot roll sheet prices have remained unchanged from last week at $780-800/mt ex-warehouse. Likewise, most traders in the cold rolled sheet market have maintained their prices at $880-900/mt ex-warehouse.
