The ongoing uptrend of prices in the HRC segment in response to surges in the global market have also contributed to the uptrend in the Turkish retail flats segment. However, end-user demand remains at minimal levels for now. Furthermore, ongoing economic difficulties and rising expenditures darken the growth prospects for the market overall.
“One of the factors that determines the market is demand. No matter how many causes force prices to rise, if demand continues to fall the growth in prices will eventually slow down,” a trader told SteelOrbis.
This week, in the domestic spot market, the hot rolled sheet (HRS) price range has risen to $780-800/mt ex-warehouse, while last week it stood at $750-780/mt ex-warehouse.
In the cold rolled sheet (CRS) market, most traders are offering at around $880-900/mt ex-warehouse, up by $30/mt from the previous week. Meanwhile, according to sources, some retailers that imported CRS at lower levels are now selling them in the market at $840-860/mt ex-warehouse.