The ongoing rising trend in the hot rolled coil (HRC) segment in Turkey as a result of increased business activity after the earthquakes as well as the increase in the scrap market has had a direct impact on the retail flat steel market and has led to a rise in prices. However, several traders believe that demand will not be satisfied in the coming days owing to a scarcity of material, while others expect the flats market to cool off once the producers located in the Iskenderun region have resumed relatively normal operations.
“Prices are increasing due to an increase in HRC prices and better trading activities, but the lack of materials is also a factor. Unfortunately, there is a general belief that prices will rise [further], but, if producers in the south recover soon and continue production, prices are expected to fall,” a trader told SteelOrbis.
Domestic retail hot rolled sheet (HRS) prices have increased by $20-40/mt over the past week to $870-900/mt ex-warehouse. Despite this, a few traders are attempting to sell at up to $950/mt ex-warehouse, which is unworkable given the present market conditions.
In the cold rolled sheet (CRS) market, a similar trend can be observed. The majority of traders have raised their prices by $50/mt over the past week to $980-1,000/mt ex-warehouse.
