The Turkish flat steel spot market has remained mostly stable in terms of spot prices this week, despite lower local HRC offers and continued pressure from softer scrap prices. Buyers are still avoiding fresh commitments unless they have urgent needs, while expectations for lower prices have become more visible in the market. Although larger traders are trying to keep their offers firm and to avoid reflecting the downward movement of HRC prices too quickly, some small and medium-sized traders are showing more flexibility in order to secure sales and improve cash flow. Market sources say sheet spot prices are still showing some resistance mainly because many traders had booked their current stocks earlier at much higher levels. However, lower HRC offers, weak demand and cash-related selling pressure are still keeping discounted levels available in the spot market.
For hot rolled sheets, the main spot range is still assessed at around $630-650/mt ex-warehouse, with no clear change from last week’s levels. However, the lower end of the market has become more visible, as some small and medium-sized traders are reported to be ready to sell at around $615-620/mt ex-warehouse in order to secure prompt sales.
Cold rolled sheet prices have also continued to move within last week’s range, with most offers still standing at around $720-750/mt ex-warehouse. Still, market sources say more competitive levels of around $690-700/mt ex-warehouse are being heard in some cases, depending on the seller’s stock position, payment terms and tonnage.
Meanwhile, local HRC offers have moved down to around $595-610/mt ex-works, compared to $605-615/mt ex-works last week, while local CRC offers are now heard at around $685-705/mt ex-works, down from $700-720/mt ex-works.
