Turkish flat steel spot prices have remained largely stable this week, as traders have preferred to keep their offers unchanged following the sharp increases seen in recent weeks. Although upward pressure from rising scrap and hot rolled coil (HRC) prices persists, demand has not shown a comparable improvement and remains relatively weak. Market participants report that many traders have already built up sufficient stocks, limiting further purchasing activity, while ongoing financial constraints continue to weigh on the local market.
“Even if HRC mills increase their prices, the market is struggling to absorb these levels. If this situation continues for another week or so, prices may start to come under pressure or at least stabilize. At the same time, rising energy costs and the overall uncertainty driven by the war continue to influence pricing, even in the absence of real demand. Trading activity has slowed significantly, and stocks are beginning to build up, which is increasing pressure on the market,” a trader told SteelOrbis
As a result, hot rolled sheet (HRS) prices in the spot market have remained stable week on week at $630-650/mt ex-warehouse. A similar trend has been observed in the cold rolled sheet (CRS) segment, where prices have also remained unchanged, at $710-750/mt ex-warehouse. However, market participants note that, while smaller and medium-sized traders continue to maintain stable offers, some larger traders have started to test slightly higher levels, with increases of around $10/mt reported.
