This week, the Turkish flat steel spot market has remained stable, as hot rolled coil (HRC) prices are still unchanged and the scrap market has remained positive. However, demand has stayed weak, with the year-end approaching and buyers becoming increasingly cautious. Market participants report that expectations of new cost increases to be announced by the Turkish government in the coming weeks have encouraged buyers to postpone purchasing decisions, with many preferring to delay purchases until next year. As a result of this cautious buying behavior, trading activity has remained limited, and several spot traders have continued to offer discounts for larger volumes to attract serious buyers. While some sellers anticipate upward price pressure once higher costs take effect, others believe that persistently weak demand leaves little room for any significant or lasting price increases.
Over the past week, hot rolled sheet (HRS) prices have remained unchanged at $580-600/mt ex-warehouse. Major suppliers have continued to hold firmer offer levels, while smaller and medium-sized sellers have remained more competitive. In the current weak demand environment, price flexibility of around $5-10/mt has been observed for higher-volume purchases.
Similarly, the cold rolled sheet (CRS) segment has shown no movement, with offers holding steady at $660-710/mt ex-warehouse, in line with the previous week.
