During the past week, CIS-based hot rolled coil (HRC) producers’ price offers to Turkey have continued to increase in line with the upward trend of prices of raw material and flat steel in the global market. However, despite price increases in their domestic market Turkish buyers have resisted this latest price increase, having already found import HRC prices to be on the high side before the latest price hike. Accordingly, demand for ex-CIS HRC has continued to be weak in Turkey and Turkish buyers are still meeting their needs from their domestic market.
Ex-CIS flat steel offers to Turkey have moved up by $10/mt week on week. Accordingly, Ukrainian hot rolled coil (HRC) offers to Turkey are currently at $515-520/mt CFR and Russian HRC offers to Turkey stand at $520-530/mt CFR, respectively. Meanwhile, Ukrainian and Russian cold rolled coil (CRC) offers to Turkey are still unchanged at $560-565/mt CFR and $560-570/mt CFR, respectively.