Flat steel retailers in Turkey have continued to raise their prices since witnessing the price increases in the hot roll coil segment (HRC), amid persistent favorable sentiments.
“Prices are actively improving, though demand is static,” a trader stated SteelOrbis.
However, traders have not received satisfactory levels of demand in the first week of the year, and ongoing financial difficulties in Turkey have created an unfavorable mood in the market creating concerns over the future of the flat steel market in the coming weeks.
In the domestic spot market, the hot rolled sheet (HRS) price range has risen this week to $750-780/mt ex-warehouse, while last week it stood at $725-745/mt ex-warehouse.
In the cold rolled sheet (CRS) market, most traders are offering at around $850-870/mt ex-warehouse, up by $20-30/mt from the previous week. Offers $10-20/mt higher are also heard in the market.
