Despite ongoing economic and financial woes, this week the retail flats market in Turkey has witnessed modest positive shifts in demand, which encouraged flats traders to further increase prices. Additionally, many retailers anticipate that business activity will gradually improve in the coming week as a result of optimistic sentiments in the hot roll coil (HRC) segment.
“Although we had anticipated that there would be little demand during the final week of the year, this week's demand has exceeded our expectations, giving us optimism for the days ahead,” a trader told SteelOrbis.
However, some market players believe the retail trade will not see any sizeable boost since end-user demand in Turkey remains constrained and insufficient. In addition, rising living expenses and taxes would put both the customer and the seller in an even tougher financial situation.
This week, the workable domestic hot rolled sheet (HRS) prices have increased by $5-10/mt week on week to $725-745/mt ex-warehouse. Despite this, a few traders are attempting to sell at up to $760/mt ex-warehouse, which is unworkable given the present market conditions.
Similarly, most cold rolled sheet (CRS) traders are offering at $820-850/mt ex-warehouse, up from $820-830/mt ex-warehouse last week.