Although new deals have been concluded in the flat steel import market in
Turkey over the past week, demand has remained quite weak. Turkish buyers' requests for discounts have been met particularly by Ukrainian suppliers. Meanwhile, buyers state that moves by Chinese suppliers to increase their prices are not realistic due to the declines recorded in iron ore prices, expectations of a fall in Chinese consumption and due to the sharp rise in the strength of the US dollar against the Turkish lira.
Russian hot rolled coil (
HRC) and cold rolled coil (
CRC) offers to
Turkey have remained unchanged over the past week at $405-415/mt CFR and $480-500/mt CFR, respectively. Buyers' firm bids for Russian
HRC offers are currently in the range of $390-395/mt CFR. Meanwhile, Ukrainian
HRC offers to
Turkey have declined by $10/mt since last week to $375-385/mt CFR. No new Chinese offers to
Turkey on CFR basis have been heard in the market yet, while Chinese
HRC offers to the global market have increased by $10/mt compared to last week to $370-390/mt FOB.