During the past week, demand for import flat steel in
Turkey has remained at low levels due to the ongoing economic and political uncertainties in the country and also due to the downtrend of global flat steel prices. Turkish buyers have concluded deals to meet their immediate needs from CIS-based suppliers. It is heard that an ex-Ukraine deal has been concluded in
Turkey in the current week for 15,000 mt of hot rolled coil (
HRC) at $480/mt CFR, while a Turkish buyer has concluded an ex-Russia booking for 10,000 mt of
HRC at $485/mt CFR. Meanwhile, Turkish buyers have also met their cold rolled coil (
CRC) needs from CIS-based suppliers, with deals concluded in the range of $550-560/mt CFR.
Import flat steel offers to
Turkey have declined over the past week amid the downward trend seen in global flat steel quotations and due to the lower prices recorded in the deals concluded in the past seven days. Ukrainian
HRC offers to
Turkey have decreased by $5/mt to $480/mt CFR, while Russian
HRC offers to the same destination have fallen by $5/mt on the lower end and $10/mt on the upper end to $485-490/mt CFR, week on week. Meanwhile, Ukrainian and Russian
CRC offers to
Turkey have both moved down by $5/mt week on week to $550-555/mt CFR and $555-565/mt CFR, respectively.