While negative expectations regarding the demand outlook in the global hot-rolled coil (HRC) market continue to exert pressure on prices, elevated production costs remain the key factor limiting further declines across many regions.
Across Europe, Türkiye and Asia, most buyers remain focused on meeting short-term requirements, while weak order intake from end-user industries continues to restrict market activity. Ongoing weakness in the manufacturing sector and an uncertain economic outlook are encouraging buyers to maintain a cautious approach toward new purchases.
Turkish HRC market remains under pressure from weak demand
As of the last trading day of the second week of June, the Turkish hot-rolled coil market continued to display a mixed sentiment.
According to SteelRadar's market research and information gathered from industry participants, Turkish domestic HRC prices on an EXW basis were heard at USD 630-645/t. Although prices softened by around USD 10/t compared to previous weeks, unconfirmed discounts negotiated behind closed doors limited the visibility of actual market declines. Deliveries were generally reported for July, although some producers were said to be quoting August shipments.
Market sources noted that current cost structures continue to squeeze margins for many mills, making aggressive price reductions unlikely in the near term.
While traders across Türkiye largely maintained their official domestic price levels, market representatives confirmed that some companies in the Mediterranean region were liquidating inventories due to cash-flow constraints, resulting in offers significantly below the national average.
Limited purchasing activity from steel service centers and end-users kept spot market transaction volumes at low levels. Although producers have offered more competitive quotations to support order intake, the inability to consistently confirm such offers has helped official list prices maintain their strength. The absence of the anticipated recovery in domestic demand and continued weakness in export channels have further weighed on overall market sentiment.
Accepted average local spot flat steel prices in Türkiye were reported as follows:
- Hot-rolled coil (HRC): USD 670/t (+USD 10)
- Cold-rolled coil (CRC): USD 705-710/t
- Hot-dip galvanized coil (HDG): USD 800-810/t
Turkish HRC export prices (FOB) were reported at USD 615-620/t. Depending on order volumes, market participants considered deviations of plus or minus USD 10/t to be acceptable. Chinese export offers continue to pressure global markets, while buyers in Europe and the Mediterranean region largely maintain a wait-and-see approach until clearer pricing signals emerge.
Turkish CRC market shows limited adjustments
Turkish cold-rolled coil prices on an EXW basis were heard at USD 700-730/t across most mills. While some producers attempted increases of around USD 10/t toward the end of the second week of June, the overall market average eased to approximately USD 720/t.
Although prices softened, producers continued to limit discount levels and maintain a cautious pricing strategy.
Turkish CRC export prices (FOB) were reported at USD 680-690/t, levels generally considered reasonable by market participants.
Uncertainty persists in Turkish galvanized coil market
Turkish 0.50 mm HDG prices on an EXW basis were reported at USD 790-810/t. Producers continued to test daily price increases and decreases of around USD 20/t; however, the highest widely accepted market level remained around USD 800/t.
By the end of the second week of June, changes in export prices remained limited. Turkish HDG export prices (FOB) were heard at USD 760-770/t. Although rumors of additional discounts circulated due to weak buyer interest, producers remained determined to defend prevailing price levels.
PPGI market continues to test daily price trends
Producers continued to test both list prices and discount levels in the domestic market. However, the generally accepted price range remained at USD 925-935/t. An average discount of approximately USD 5/t was considered achievable.
Although hidden offers as low as USD 910/t were rumored for large-volume inquiries, such levels could not be confirmed.
Turkish PPGI export prices (FOB) were accepted at USD 850-860/t.
Overall, cautious buyer sentiment and low transaction volumes continue to play a decisive role in short-term price formation within the Turkish flat steel market.
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