This week, spot prices for Turkish flat steel have remained relatively stable, mainly supported by the ongoing stability of domestic hot rolled coil (HRC) prices. Although overall demand has remained weak at the beginning of September, the market sentiment is mixed. Some suppliers, expecting a gradual recovery in business activity in the coming weeks, have decided not to offer additional discounts in order to protect their margins. On the other hand, certain sellers remain cautious about the near-term demand outlook and continue to offer limited discounts, typically in the range of $5-10/mt, to attract serious buyers and maintain sales volumes.
“Although September has begun, demand this week remains weak. There are some hopes for a recovery compared to the summer months, but, considering Turkey’s ongoing financial difficulties, the chances of this appear low,” a trader told SteelOrbis.
As a result, the current workable price range for hot rolled sheet is reported at $570-590/mt ex-warehouse, unchanged compared with the previous week. Larger traders are generally positioning their offers at the higher end of the range, at around $590/mt, while medium and smaller sized traders continue to offer more competitive levels, typically at $570-580/mt.
A similar pricing trend has been observed in the cold rolled sheet segment. Most suppliers have opted to maintain last week's offer levels unchanged, in the range of $660-705/mt ex-warehouse.
