Following the significant decreases seen in the flat steel spot market in Turkey in previous weeks, stability has been observed in the market in the past week despite lower scrap prices and the recent weakening of domestic HRC prices. According to market participants, the overall outlook remains weak, with buyers largely purchasing only according to immediate requirements and showing little urgency to conclude new transactions. Although workable levels have stabilized this week and larger traders have generally maintained their official offer levels in an effort to preserve market prices, increasing competition for a limited number of orders has encouraged some small and medium-sized traders to adopt a more flexible approach, with additional discounts becoming available for serious buyers.
As a result, local hot rolled sheet workable prices are reported at around $630-650/mt ex-warehouse, largely unchanged week on week. Similarly, in the cold rolled sheet segment, workable prices are currently assessed at $720-740/mt ex-warehouse, also stable compared to the previous week.
However, as noted above, some small and medium-sized traders have become more flexible in negotiations, with discounts of around $5-10/mt increasingly heard for serious buyers.
