Last week, Ukraine-based steelmakers Zaporizhstal and Ilyich Iron & Steel Works, subsidiaries of Ukrainian mining and steel producing group Metinvest, increased their January production hot rolled coil (HRC) offers to Turkey by $20/mt as compared to transaction levels in the past month to $545-550/mt CFR.
In the meantime, January output cold rolled coil (CRC) offers to Turkey from Zaporizhstal and Ilyich Iron & Steel Works have also indicated an increase of $5-1/mt as compared to last month's transaction levels to $630-640/mt CFR.
On the back of global upward trend in flat steel prices, the offers in question may be revised again in this week.