Turkey's Flat Steel Prices Will Expect to Reduce Further

According to report, Turkey's flat steel prices will expect to decline further due to the market demand sluggish. Currently, hot Rolled Coil(HRC) quoted US$ 570-575/ton (ex-works) at local mills, but the transaction list price lower about US$ 5-10/ton. In fact, the most of the steel mills have fully order booking in July and begin to accept orders in August. Meanwhile, turkish HRC export market remained weak, while exports quoted at US$ 560-570/ton FOB. Ukrainian HRC export to turkey transaction list price of US$ 510/ton CFR in the Early June, but no new orders fulfilled recently. Russia haven't quoted to Turkey this month,the new price will be announced in next week. Traders said that with summer approach, buyers would wait and see for the orders due to the price volatility at the moment. Meanwhile Turkish domestic inventory level remained low , procurement activities will expect to pick up if prices improve further.