Following last week’s slight drop in cold rolled sheet (CRS) prices, the Turkish flat steel spot market has continued to come under pressure due to weak demand, negative sentiment in the hot rolled coil (HRC) segment, and the seasonal slowdown. As a result, traders have reduced their hot rolled sheet (HRS) prices over the past week. The most noticeable reductions have come from small and medium-sized traders, while larger traders have made only modest cuts. According to market sources, large traders are still trying to keep official prices as high as possible but are offering discounts to buyers placing sizable orders. Meanwhile, smaller traders have lowered their offers to more workable levels. However, despite these price cuts, buying activity remains limited and sales have yet to show significant improvement.
Domestic HRS prices have been reported in the range of $570-590/mt ex-warehouse, compared to $580-595/mt during the previous week. Larger traders are maintaining quotes at around $590/mt, while smaller and medium-sized traders are offering at $570-580/mt.
Conversely, the CRS market has remained largely stable. Despite subdued demand, most traders have opted to keep their prices unchanged, with current offers ranging at $680-725/mt ex-warehouse.