At the start of the new week, the Turkish flat steel spot market recorded another round of price increases ahead of the holiday period, with the upward trend continuing despite still limited demand conditions. The recent strength of HRC prices has remained the key driver behind higher spot quotations, encouraging sellers to adjust their offers upward. However, market participants note that the demand side has not shown a comparable improvement, and buying activity remains cautious. While some transactions have been observed in the domestic market, these are largely described as short term or necessity-driven rather than reflecting a broad-based recovery. Market participants underline that the direction of the market will largely depend on post-holiday demand conditions.
“Prices have continued to increase, and the market is now waiting to see whether demand will materialize after the holiday. The direction will be shaped accordingly,” a source from the Iskenderun region told SteelOrbis.
At the same time, a more cautious approach has been observed in other regions. “In Eregli, most traders have stopped sales for now. We are hearing these price levels, but transactions are largely on hold as market participants prefer to wait for more clarity after the holiday,” a source from Eregli told SteelOrbis.
Hot rolled sheet (HRS) prices in the spot market are now reported at $630-650/mt ex-warehouse, indicating an upward adjustment compared to last week’s levels of $610-640/mt ex-warehouse. A similar movement has been observed in the cold rolled sheet (CRS) segment, where prices have increased to $710-750/mt ex-warehouse, up from $700-740/mt ex-warehouse previously.
Meanwhile, HRC offers from local mills have been heard at $615-630/mt, while CRC offers are reported at $690-710/mt.
