This week, prices in the Turkish flat steel spot market have shown a moderate upward movement compared to the previous week. While demand conditions cannot yet be characterized as strong, market participants report a noticeable improvement in activity levels, with buyers returning to the market cautiously amid expectations that prices may continue to move higher. As a result, the scope for discounts in the spot market has narrowed, as sellers have become less inclined to offer significant price reductions. The firmer pricing environment has been largely supported by the strong stance of domestic hot rolled coil (HRC) producers, whose recent price increases have been influenced by rising cost expectations and heightened uncertainty in energy and logistics markets due to the war in the Middle East.
According to reports, flat steel spot prices have moved up from last week’s levels, with HRS heard at $600-625/mt ex-warehouse, compared to $590-625/mt ex-warehouse previously, while CRS prices are heard at $685-725/mt ex-warehouse, up from $675-725/mt ex-warehouse.
“Demand appears slightly better than before, but buyers are still not very aggressive. Even if demand is not strong, producers continue to push prices up due to the current conditions, which is keeping prices firm in the spot market and supporting further increases,” a trader told SteelOrbis.
Meanwhile, domestic mills’ official offers are reported at $580-610/mt ex-works for HRC, while cold rolled coil (CRC) offers are heard at around $645-660/mt ex-works.
