Over the past week, demand for import flat steel is still sluggish in Turkey, while import prices have remained unchanged. Turkish buyers have been postponing their import purchases ahead of the end-of-Ramadan holiday, preferring to stand back and monitor the global flat steel markets. Market sources have stated that buyers are waiting to gain a clearer picture of flat steel prices before they start buying, as they expect the declines in global prices of iron ore and coking coal to be reflected in flat steel prices.
During the past week, Ukrainian hot rolled coil (HRC) offers to Turkey have remained at $455-460/mt CFR, while Russian HRC offers to the same destination are still at $465-475/mt CFR. Also, Ukrainian cold rolled coil (CRC) offers to Turkey are currently at $500-505/mt CFR, while Russian CRC offers to the same destination are at $510-520/mt CFR.