According to market sources, demand for flat steel imports in
Turkey has remained slack during the past week. Market players have been purchasing only in line with their needs amid the uncertainty prevailing ahead of the general election on June 7, and also due to the approach of Ramadan. On the other hand, Turkish buyers have been resisting increases in import flat steel prices, while they are requesting discounts from suppliers amid declining iron ore prices and weakening demand ahead of the summer.
However, prices in the global hot rolled coil (
HRC) market have continued to increase over the past week. No new offers from Russia to
Turkey have been heard, while Russian
HRC offer to
Europe have increased by $20/mt compared to last month to $380-385/mt FOB. Accordingly, Russian offers to
Turkey are expected to increase in the coming period. Meanwhile, Ukrainian
HRC offers to
Turkey have remained unchanged in the range of $375-385/mt CFR.