The European spot hrc market started the last week of February with a calm trend. Prices are expected to fall further for buying and selling transactions. Traders informed SteelRadar that they would like to see a further decline in prices, which have been calm and flat for some time now, but that the appropriate pricing for buying has not yet materialized.
In dollar terms, prices have been hovering around $785-825 in Northern Europe, and a further decline could weaken the competitive environment for Turkish producers. In Türkiye's domestic market, manufacturers' ex-factory prices hover between $700-720.
Turkish producers, who need lower prices or cost advantages to be more competitive in exports, are stuck in the balance between exports and domestic sales. Turkish producers are trying to stay strong and are waiting to see what tariffs they will apply if prices come back in the European market.
Market representatives said that Northern European producers have been quoting prices of €725-750 per ton for hot rolled steel at April deadline prices, but there is an expectation that this price will fall further.
However, as prices continue to come back, buyers in Türkiye's domestic market as well as in global steel sheet markets prefer to wait.
The average of flat steel markets in Türkiye, evaluated by SteelRadar, was seen as follows;
FEBRUARY 28th, 2024 HRC (hot rolled coil) spot market prices;
Aegean Region $720-$735 (-$5 per week)
Marmara Region $715-730 (-$10 per week)
Iskenderun Region $700-725 (-$10 per week)
Black Sea Region $715-730 (-$5 per week)
FEBRUARY 28, 2024 SteelRadar flat steel prices;
HRC (hot rolled coil) $710 (-$10 per week)
CRC (cold rolled coil) 810$ (-$10 per week)
GI (galvanized sheet) $910 (0.00)
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