Demand for Turkish flat steel exports has remained slack over the past week. With the euro losing strength against the US dollar, demand for Turkish flat steel products has weakened further especially in European markets where it has already been quiet for a long time now. Market sources state that buyers have found Turkish flat steel export offers to be on the high side.
Turkish hot rolled coil (HRC) offers to the export markets are currently in the range of $390-400/mt FOB, while firm bids from buyers are at $370-385/mt FOB. On the other hand, Turkish cold rolled coil (CRC) export offers are now in the range of $520-525/mt FOB, while firm bids from buyers are at $480-500/mt FOB. Market sources also state that Turkish offers in the target export markets have come under downward pressure from flat steel offers from China and the CIS.