Turkish mills’ lower hot rolled coil (HRC) prices have had a direct impact on the retail flats sector, and several traders have reduced their local offers this week. As a result of the downturn, which is being driven by a prolonged lack of demand and economic difficulties, traders believe that the market's future is bleak and that a decline is inevitable in the coming days.
“Market conditions are poor. There is no demand, and regrettably, we anticipate a further decline over the next few weeks.” a trader told SteelOrbis.
Workable domestic hot roll sheet prices are currently at $670-700/mt ex-warehouse, a $30-40/mt decrease from last Friday. While larger traders are selling at $670-680/mt ex-warehouse, smaller traders are selling at $690-700/mt ex-warehouse. Likewise, most traders in the cold rolled sheet market have dropped their prices to $780-815/mt ex-warehouse, from $810-850/mt ex-warehouse previously.