CIS flat steel producers push up offers for Turkish market

Last week, CIS flat steel producers announced their export offers for the Turkish market, with prices increasing by about $20-40/mt as compared to last month.
 
Accordingly, Russian mill Severstal is offering March production hot rolled coil (HRC) from its mill 2000 to Turkey at the base price level of $715/mt CFR, while its offers for HRC from its mill 1700 are at $700/mt. Severstal's cold rolled coil (CRC) offers to the Turkish market are standing at $785/mt CFR, for March rolling. In the meantime, another major Russian steel producer has revised its HRC export offers to Turkey from $650/mt CFR to $660/mt CFR.
 
On the other hand, Russian steel producer Magnitogorsk Iron and Steel Works (MMK) is offering March production hot rolled coil (HRC) to Turkey at $645-650/mt CFR, while its cold rolled coil (CRC) offers were standing at $715-720/mt CFR. However, the producer has revoked its CRC export offers, since it enjoys stronger CRC demand in the Russian domestic market. While no HRC transactions have been heard so far at this price range, it is predicted that MMK may raise its HRC export offers to Turkey, since its HRC offers to Europe are currently higher, at $710-720/mt CFR.
 
SteelOrbis has further learned that Ukrainian steel producer Zaporizhstal is offering HRC to the Turkish market at $640-645/mt CFR, though transactions are heard to be concluded at $635/mt CFR. It is heard that after local Turkish mills' flat steel price hikes, Turkish buyers are showing interest in Zaporizhstal's offers and some large volume transactions have already been concluded.