It is reported that Turkey’s distributors have reduced their domestic hot-rolled coil prices to US$560~570/ton from US$660~660/ton in last two weeks, and cold-rolled coil US$750~850/ton to US$650/ton~660/ton.
Some trader indicates that buyers have been lack of cash due to the global credit crisis.
Despite the low prices at present, buyer’s purchase and orders would not be large for their sake of funds flow. Source:Yieh.com