Following the coup attempt in
Turkey on July 15, Turkish flat steel importers prefer to maintain a wait-and-see approach due to the ongoing political tension in the country, causing demand to remain weak.
Meanwhile, ex-CIS hot rolled coil (
HRC) offers to
Turkey have increased during the past week after the rises recorded in Chinese
HRC prices. As a result, CIS-based suppliers have increased their
HRC offers to
Turkey by $10/mt on the upper end week on week to $370-400/mt CFR.