Although demand in the Turkish flat steel market has remained quiet during the past week, buyers have started concluding new import bookings in line with their needs. Import flat steel suppliers have offered discounts of $10-15/mt in negotiations, concluding some sales at reduced prices. Nevertheless, buyers' firm bids for
HRC are lower than the reduced import price levels in
Turkey. Accordingly, contrary to previous months, in November more purchases have been concluded for locally produced hot rolled coil (
HRC) than for import
HRC. However, Turkish buyers have found import cold rolled coil (
CRC) offers to be at reasonable levels and so have shown more interest in import
CRC offers than in offers for domestic production
CRC.
Ex-
Ukraine HRC offers to
Turkey have declined by $15/mt over the past month to $270-280/mt CFR
Turkey. However, following the deals concluded this week at $270/mt CFR, Turkish buyers' firm bids to
Ukraine are now at $260-265/mt CFR. Meanwhile, ex-
Russia HRC prices have decreased by $15/mt in the same period to $275-285/mt CFR, while Turkish buyers' firm bids are currently at $270/mt CFR also after the bookings concluded this week.
On the other hand, Ukrainian
CRC offers to
Turkey have declined by $15/mt to $330-340/mt CFR, while Russian
CRC offers to
Turkey have decreased by $10/mt in the same period to $340-360/mt CFR.
All prices are for December production.