The Turkish flat steel spot market has largely preserved last week’s price increases, with quotations remaining stable despite weak demand and a cautious overall outlook. Although trading activity continues to slow down due to financial constraints in the market and the approach of Ramadan, prices have not declined. The firm stance of domestic HRC producers, supported by the ongoing positive trend in the scrap segment, has helped maintain relatively high price levels in the spot market. While underlying demand does not strongly justify these price levels, many traders are refraining from offering discounts and are attempting to keep prices firm. However, given that the current market outlook and expectations are not positive, it remains unclear how long these firm price levels can be maintained in the absence of a meaningful improvement in demand.
As a result, hot rolled sheet (HRS) quotations have shown no significant change over the past week, remaining at $590-625/mt ex-warehouse, as the market continues to balance mills’ firm pricing against weak end-user demand.
In parallel, the cold rolled sheet (CRS) segment has followed a similar pattern, with offers holding at $675-725/mt ex-warehouse.