Turkish flat steel traders keep raising their prices this week as a result of the good impacts in the hot roll coil (HRC) and scrap markets. However, according to market participants, the demand side is still sluggish, which is why business activity remains slow.
“Demand is still weak. We hope that this is due to the end of the year, but if it persists at the beginning of the year, it is doubtful how long this growth will last,” a trader told SteelOrbis.
Furthermore, the continuous economic and financial difficulties worldwide and in Turkey, as well as the uncertainties about how much energy costs will rise, cause sellers to be concerned.
Workable domestic hot rolled sheet (HRS) prices are presently at $715-740/mt ex-warehouse, a $5-10/mt rise from last Friday. Nonetheless, a few traders are seeking to sell at up to $760/mt ex-warehouse, which is unreasonable based on the current market conditions.
Similarly, most cold rolled sheet (CRS) traders are offering at $820-830/mt ex-warehouse, up from $800-810/mt ex-warehouse last week.