This week, the Turkish retail flat market began to recover slightly, and traders pushed up prices. The reason for this comeback is the trade improvement since traders received some orders delayed from before the recent holiday and therefore sold off some stocks. However, the market is not yet entirely positive given the weak export activity, the volatility of the exchange rate, and general economic issues.
“This week, as predicted, we observed business activity in the domestic market following the holiday. Although this activity was not as dynamic as formerly, it brought some life to the domestic market. However, the silence in the export sector persists, and, given the global and local economic crises, as well as the accompanying lack of demand, it is crystal clear that demand in the current domestic market will become silent in the coming days,” a trader told SteelOrbis.
As a result, this week the workable domestic hot rolled sheets (HRS) prices are at $750-790/mt ex-warehouse, from $730-760/mt ex-warehouse before the holiday. Likewise, the cold rolled sheet (CRS) market has also ramped up, with the majority of traders this week offering prices at $830-905/mt ex-warehouse, up $5-30/mt over the past week. Some medium-size traders are selling at $830-850/mt ex-warehouse while bigger suppliers are negotiating at $870-905/mt ex-warehouse.
