Over the past week, flat steel demand in the local Turkish market has remained at decent levels, while demand for import flat steel in the country has been weak since import flat steel offers are considered to be on the high side following the prices increases recorded in recent import bookings. Market sources stated that, as import flat steel offers have mostly lost their previous price advantage, buyers have turned to domestic producers for their flat steel purchases.
During the past week, Ukrainian hot rolled coil (HRC) offers to Turkey have remained at $485-490/mt CFR and Russian HRC offers to Turkey have remained unchanged at $490-500/mt CFR, respectively. Meanwhile, Ukrainian and Russian cold rolled coil (CRC) offers to Turkey are still at $540-545/mt CFR and $540-550/mt CFR, respectively.