According to market sources, demand for hot rolled coil (HRC) imports in Turkey is still slack this week due to uncertain market sentiment following the June 7 general election, while prices have softened over the past month. Turkish buyers are waiting for the political and economic situation in the country to become clearer and they are wondering if their firm bids will be accepted by local producers. Meanwhile, Turkish producers' HRC offers to local buyers have also indicated a slight decrease this week, following the declines in import HRC offers.
Russian HRC offers to the Turkish market have decreased by $10/mt to $375-385/mt CFR, while cold rolled coil (CRC) offers from Russia to Turkey have declined by $15/mt to $460-480/mt CFR, both month on month and for July production. Meanwhile, ex-Ukraine HRC and CRC offers to Turkey have decreased by $15/mt to $360-370/mt CFR and $460-480/mt CFR respectively, both on month-on-month basis. Also, this week an offer for an ex-China HRC cargo containing a large tonnage has been heard in Turkey at $355/mt CFR, for September shipment.