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Turkey’s flats spot prices still firm, but pessimistic mood exerts pressure

Thursday, 23 May 2024 15:33:16 (GMT+3)   |   Istanbul

Given the ongoing negative atmosphere in the domestic market, the majority of Turkish flat steel spot traders have maintained offers at the same level week on week. However, since some softening has been seen in the hot rolled coil (HRC) segment and given the persisting lack of business activity, several spot traders have decided to provide discounts to attract consumers’ attention.

“The circumstances remain unchanged since demand is extremely limited, resulting in nearly all traders selling at a loss,” a trader told SteelOrbis.

In consequence, workable domestic hot rolled sheet prices have remained stable week on week at around $650-670/mt ex-warehouse, while, as previously mentioned, some traders are seeking to attract buyers by providing pricing lower prices than the market levels, at around $640-645/mt ex-warehouse.

In the cold rolled sheet market, however, the majority of sellers are offering at approximately $780-800/mt ex-warehouse, which is the same as the previous week. According to sources, a few small traders are looking for ways to increase their sales by offering at roughly $760-770/mt ex-warehouse.


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