CIS mills set new HRC and CRC offers for Turkey

CIS steel producers' new flat steel offers to Turkey have been announced this week, while Turkish buyers' demand for import materials has not shown any improvent. This week, some transactions have been reported for lower tonnages and it is also reported that Turkish buyers' counter bids are being accepted by foreign steel producers. However, since market activity in the Turkish domestic flat steel market has further slowed down this week amid the approaching Ramadan holiday, market players are waiting to see whether foreign mills will soften their new issued price levels in line with buyers' firm bids.
 
Currently, Ukrainian mills' hot rolled coil (HRC) offers to the Turkish market are standing at $560-580/mt CFR, while their cold rolled coil (CRC) offers are at $665-680/mt CFR. In the meantime, Russian mills are offering HRC to Turkey at $615/mt CFR and CRC at the price range of $680-720/mt CFR. European mills' HRC offers to Turkey, on the other hand, have not indicated any changes due to the continuing summer holidays in Europe, and are still trending sieways at $620-640/mt CFR.