The Turkish flat steel spot market has come under pressure this week, with workable prices declining following recent downward adjustments by domestic HRC producers. Market participants indicate that weak demand continues to limit trading activity, while ongoing financial pressures throughout the supply chain have further weighed on sentiment. As a result, traders have become increasingly flexible in negotiations in an effort to secure sales and generate liquidity, particularly as buyers continue to postpone purchases in anticipation of lower prices. Consequently, workable spot prices have softened compared to last week, increasingly reflecting the lower pricing trend recently adopted by domestic mills.
“Demand remains very weak and there is a serious liquidity problem in the market. Some traders have become increasingly aggressive in their pricing and may offer material at discounts of $20-25/mt below prevailing levels in order to improve liquidity. Buyers are also waiting for mills to reduce prices further, as many believe current levels are still too high given the lack of real demand,” a trader told SteelOrbis.
Market sources indicate hot rolled sheet workable prices at around $630-650/mt ex-warehouse, compared to $650-670/mt ex-warehouse last week.
In the cold rolled segment, workable prices are currently assessed at $720-750/mt ex-warehouse, down from $740-760/mt ex-warehouse reported previously.
Meanwhile, local mills' prices for HRC are currently heard at $625-640/mt ex-works, while their CRC prices are reported at $695-715/mt ex-works.
