Over the past week, the ongoing increases in global raw material and flat steel prices have provided support for the upward trend of import flat steel offers to Turkey. Turkish buyers have continued to make price inquiries for import flat steel, though CIS-based suppliers’ import flat steel offers were considered to be on the high side and have not gained acceptance in the market. Market sources said that Turkish demand for domestic flat steel is strong with Turkish buyers stepping up their domestic flat steel purchases given advantages in terms of prices and lead times, while they are still negotiating for import transactions.
During the past week, Ukrainian hot rolled coil (HRC) offers to Turkey have moved up by $20/mt to $485-490/mt CFR and Russian HRC offers to Turkey have increased by $15/mt to $490-500/mt CFR, respectively. Meanwhile, Ukrainian cold rolled coil (CRC) offers to Turkey have increased by $20/mt week on week, rising to $540-545/mt CFR, and Russian CRC offers to Turkey have moved up by $10/mt week on week to $540-550/mt CFR.