Despite business activity in the domestic market continuing to slow and expectations for recovery remaining unmet, Turkish flat steel spot traders have opted to keep their offers stable, mirroring last week's levels. According to market participants, although some traders are providing discounts to serious buyers, hot rolled coil (HRC) prices overall remain largely unchanged. As a result, most spot traders are following the same stabilization path. However, sources also note that if demand fails to improve or show further signs of recovery, a downward price adjustment could become inevitable.
“Although we saw some sales at the start of the month, demand has not picked up as hoped. For now, we are keeping prices stable, in line with the trend set by HRC producers,” a trader told SteelOrbis.
Currently, the workable price range for hot rolled sheet is reported at $570-590/mt ex-warehouse, unchanged week on week. While larger traders are offering at around $590/mt, medium and smaller-sized traders continue to offer in the $570-580/mt range. However, due to sluggish demand, some medium and smaller players have started to offer discounts, with prices heard as low as $560-565/mt for serious buyers to stimulate sales.
In the cold rolled sheet segment, a similar stabilization trend has been observed, with most suppliers maintaining last week's offers in the range of $660-705/mt ex-warehouse.
