After the bookings concluded in the previous week, buyers of import flat steel in Turkey met most of their needs and then they preferred to sit back and monitor the market and so have not concluded any sales in the past week, resulting in weak demand for import steel. Market sources stated that buyers are postponing their import purchases in the belief that global flat steel prices will continue to decline and that prices have not hit bottom yet.
Ukrainian HRC offers to Turkey have decreased by $10/mt to $470/mt CFR, while Russian HRC offers to the same destination have fallen by $10/mt on the lower end to $475-490/mt CFR, both week on week. Meanwhile, Ukrainian CRC offers to Turkey have moved down by $30/mt week on week to $520-525/mt CFR and Russian CRC offers have decreased by $25/mt over the same period to $530-540/mt CFR.