The Turkish flat steel spot market remains under pressure, as business activity shows no signs of improvement. While hot rolled sheet (HRS) prices have remained largely stable, cold rolled sheet (CRS) prices have declined, particularly among larger traders. Despite the stability in HRS prices, reports indicate that bigger traders have begun offering discounts to serious buyers, while some smaller traders continue to make aggressive offers, as seen over the past week. Meanwhile, slight declines in the scrap market and a softening trend in the hot rolled coil (HRC) segment continue to dampen hopes for near term recovery.
Over the past week, domestic HRS prices have remained stable at $580-595/mt ex-warehouse. However, some smaller traders are offering lower prices at $570-575/mt ex-warehouse to attract buyers.
In the CRS market, slower demand has led to price reductions, especially from larger traders. Offers have fallen by $10/mt over the past week, now ranging between $680-725/mt ex-warehouse. Larger traders are quoting around $720-725/mt ex-warehouse, while smaller and mid-sized traders are holding their offers at $680-690/mt ex-warehouse.
Meanwhile, Turkey's official HRC and CRC prices in the domestic market stand at $540-560/mt ex-works and $650-670/mt ex-works, respectively.
