Demand for import flat steel in Turkey has remained slack during the past week. Turkish buyers had been waiting for CIS-based suppliers to announce their new flat steel offers next week. The ex-CIS prices were expected to be announced after Chinese suppliers issue new HRC quotations following the end of the Chinese New Year holiday on February 14. However, Russian flat steel suppliers have announced their new flat steel quotations for March output this week, keeping their prices for hot rolled coil (HRC) stable as compared to prices for February output materials, while they reduced their cold rolled coil (CRC) prices for March production. Nevertheless, Turkish buyers are in no rush to conclude import flat steel transactions amid their expectations of a decline in Chinese flat steel offers following Chinese suppliers' return to the market and due to the possibility of a fall in ex-CIS flat steel offers in line with their Chinese competitors. Meanwhile, no new import flat steel booking has been heard in Turkey during the past week.
The latest Ukrainian hot rolled coil (HRC) deal in Turkey was concluded at $260-270/mt CFR. Meanwhile, Russian suppliers have kept their HRC offers for March output material to Turkey stable at $270-280/mt CFR as compared to prices for February output materials. This price range is approximately $5/mt higher than price levels seen in the latest Russian HRC deal concluded to Turkey.
On the other hand, the latest Ukrainian cold rolled coil (CRC) deal concluded in Turkey was in the range of $325-335/mt CFR. Also, Russian cold rolled coil (CRC) offers to the same destination have declined by $10/mt over the past month to $330-350/mt CFR, for March production. This price range is approximately $10/mt higher than the price levels recorded in the latest Russian CRC booking concluded in Turkey.
Meanwhile, Iranian HRC offers to Turkey have moved sideways in the same period and are still at $280-285/mt CFR.