Demand for import flat steel in Turkey on quiet side at year-end

This week, buyers in Turkey have continued to postpone their import flat steel bookings and inquiries due to the approach of the New Year, while demand for import flat steel has remained at low levels. Although Turkish buyers are expected to restart their import flat steel inquiries with the beginning of the New Year, demand is not foreseen to revive amid the ongoing political and economic uncertainties in the country.
 
In the current week, ex-CIS hot rolled coil (HRC) offers to turkey have continued their upward movement. Ukrainian HRC offers to Turkey have increased by $5/mt week on week to $510/mt CFR while in the same period Russian HRC offers to the same destination have moved up by $10/mt on the lower end to $520-530/mt CFR. Additionally, Ukrainian and Russian cold rolled coil (CRC) offers to Turkey have remained unchanged during the past week at $580-590/mt CFR and $590-610/mt CFR, respectively.