Although the strongest negative factors in the Turkish flats spot market are still Turkey's financial difficulties and sluggish trade, traders have continued to keep prices stable week on week, especially as hot rolled coil (HRC) mills are seeking to keep their prices unchanged with the support of some movements in the scrap market.
“Though demand is still very low, we have opted to maintain the current levels in the spot market as HRC pricing remains unchanged from producers,” a large trader told SteelOrbis.
As a result, workable domestic hot rolled sheet prices are stable week on week at around $660-680/mt ex-warehouse. While the majority of traders seek to limit price decreases, others continue to encourage trade by offering lower levels at $650-655/mt ex-warehouse. Meanwhile, prices in the cold rolled sheet market have remained unchanged from the previous week at $780-820/mt ex-warehouse.