This week, the Turkish flat steel spot market has started to show signs of recovery following last week’s correction phase, as improving demand and gradually tightening supply have begun to support price levels. While the market had previously struggled to maintain upward momentum amid weak buying interest, activity has picked up over the past week, with market participants reporting a more significant appetite in the spot segment. At the same time, reduced availability in the market has allowed sellers to adopt a firmer stance in negotiations. As a result, prices have moved up slightly across both the hot and cold rolled segments, pointing to a more balanced market structure rather than a continued downward correction.
As a result, hot rolled sheet (HRS) prices in the spot market are now heard at $640-665/mt ex-warehouse, up from $635-665/mt ex-warehouse last week. While larger traders continue to target the upper end of the range at $655-665/mt, smaller and medium-sized traders are heard offering at more competitive levels of $640-650/mt in order to secure sales, reflecting a more active trading environment compared to the previous week.
On the cold rolled sheet side, prices are currently reported at $740-755/mt ex-warehouse, up slightly from $730-755/mt ex-warehouse last week. Despite the increase, the market does not yet show a fully firm upward trend, with some flexibility still observed in negotiations depending on volumes, suggesting that the recent improvement in activity has yet to translate into stronger pricing power.
