During the past week, CIS-based flat steel suppliers played an active role in the export markets and made several hot rolled coil (
HRC) offers to
Turkey, as Chinese suppliers were absent due to the Chinese National Day holiday. However, Turkish buyers are still cautious about making fresh bookings due to the ongoing depreciation of the Turkish lira against the US dollar resulting from the beginning of the meetings regarding
Turkey's transition to a presidential system.
Over the past week, Russian
HRC offers to
Turkey for November output have remained stable week on week at $425-430/mt CFR, while Ukrainian suppliers'
HRC offers to
Turkey for November output have remained unchanged at $415/mt CFR. Additionally, ex-CIS cold rolled coil (
CRC) offers to the same destination have remained stable during the past week at $440-470/mt CFR. However, flat steel offers from Russian and Ukrainian suppliers, who are still playing an active role in the export markets, have not gained acceptance yet in
Turkey, due to the ongoing political and economic uncertainty in the country.