The Turkish flat steel spot market has shifted into a correction phase this week, as the recent upward momentum has lost pace and the market is searching for a new balance. Although HRC and scrap prices have remained relatively stable, the lack of sufficient demand has started to exert stronger pressure on spot price levels, limiting the market’s ability to sustain previous increases. In the HRS segment, this has translated into softer pricing, particularly among small and medium-sized traders who have become more flexible in negotiations in order to stimulate sales, while larger players are still attempting to hold their offer levels stable and resist further downward pressure. On the CRS side, the picture is more mixed, with some higher offers still being quoted, though not consistently supported across the market, as slower demand and cautious buying behavior continue to weigh on transactions.
As a result, hot rolled sheet (HRS) prices are generally reported at $635-665/mt ex-warehouse, down from $650-665/mt ex-warehouse last week. Market participants note that small and medium-sized traders are offering material at $635-645/mt ex-warehouse, while larger traders continue to target $650-665/mt ex-warehouse.
Meanwhile, cold rolled sheet (CRS) prices are indicated at $730-755/mt ex-warehouse, up from $725-755/mt ex-warehouse last week. However, the upward movement is not uniform across the market, as some traders are offering at $720-725/mt ex-warehouse for serious buyers and larger volumes amid slow demand, pointing to a lack of firm upward momentum.
