Following last week’s upward movement of hot rolled coil (HRC) prices in Turkey, supported by firmer scrap dynamics, the Turkish flat steel spot market also recorded a modest increase, but this week the spot market has shifted into a stable phase. Traders have decided to keep their offers unchanged, reflecting both the stabilization of HRC pricing and the limited demand environment. Although prices look stable, trading in the spot market remains subdued, with buyers restricting purchases to essential tonnages and frequently seeking discounts. According to market participants, last week’s price increase had been mainly a cost-push reaction to higher HRC and scrap price levels, not a sign of stronger demand. Therefore, current spot prices, while nominally unchanged, remain exposed to downward pressure given the lack of meaningful buying activity.
Currently, hot rolled sheet (HRS) prices have remained unchanged week on week, standing at $580-600/mt ex-warehouse. Larger traders continue to offer at the upper end of the range, while medium-sized and smaller traders have kept their quotations toward the lower band. However, some sellers are still providing $5-10/mt discounts for larger tonnages to stimulate sales.
Similarly, cold rolled sheet (CRS) offers have remained stable following last week’s increase, staying within the range of $660-710/mt ex-warehouse.
