This week, flat steel retail traders in Turkey have decreased their local prices as a result of the significantly reduced business activity brought on by low demand and economic and financial difficulties. In addition to these worries, the retail market is also being negatively impacted by declining hot roll coil (HRC) prices.
“Prices are falling and it appears that they will keep falling because there has been no improvement in demand, and, regardless of how much the price is reduced, the buyer's desire to purchase remains unchanged,” one trader told SteelOrbis
Domestic hot rolled sheet (HRS) are now priced at $700-720/mt ex-warehouse this week, down $10/mt from the previous week, while some other traders are trying to sell at around $740/mt ex-warehouse, which is not feasible in the current market situation. A similar downward trend can be seen in the cold rolled sheet (CRS) market. This week, most traders are offering prices at $800-825/mt ex-warehouse, down from last Friday's $810-850/mt ex-warehouse.
