[SMM Steel] Weak Domestic and Overseas Demand Keeps Turkish Flat Steel Prices Soft and Stable
[Turkey] Last week, Turkish HRC prices remained broadly stable amid persistently weak demand in both the domestic market and the EU. Domestic HRC prices held at around USD 585–600/tonne EXW, with one southern mill offering at about USD 585/tonne EXW, while northern mills quoted around USD 590–595/tonne EXW and another mill at USD 600/tonne EXW. With two major mills planning maintenance in September, most producers are currently focusing on booking October production, leaving only limited September tonnage available. On the export side, mainstream offers remained at USD 570–575/tonne FOB, while large-volume deals could be negotiated down to around USD 560/tonne FOB. EU demand remained weak during the summer holiday period, although some Turkish mills still secured delivery orders ahead of the new quota period starting on 1 October. For imports, Chinese HRC for late-September shipment was offered to Turkey at around USD 530–535/tonne CFR.