The Turkish flat steel spot market has remained largely stable this week, with prices holding firm despite ongoing challenges related to weak domestic demand and difficult financial conditions. Although producers have slightly lowered their hot rolled coil (HRC) prices in recent days, most spot market participants have opted not to follow suit with further reductions. Market sources indicate that both suppliers and buyers are operating under financial strains, which continue to limit trading volumes. In this environment, further price cuts are not seen as helpful, as they may not lead to increased buying activity. Buyers remain cautious and selective, often postponing purchases unless essential. Still, some traders have adopted more flexible pricing strategies for bulk orders in an effort to stimulate sales.
“There have been some declines from HRC mills recently, but the spot market has stayed relatively flat. Price drops at this point could hurt more than help, especially given the current issues with payments and sales activities,” one trader told SteelOrbis.
Given these dynamics, hot rolled sheet prices this week have remained in the range of $570-590/mt ex-warehouse, consistent with the previous week. Larger traders tend to maintain offers at the higher end of this range, while medium-size and smaller traders are quoting slightly lower.
In the cold rolled segment, price stability has also been observed. Offers have held steady at $660-705/mt ex-warehouse, as traders maintain their levels despite limited business activity.
Nonetheless, sources report that discounts of $5-10/mt are being quietly offered in both the hot and cold rolled sheet segments for confirmed large-volume deals.
