Buyers in Turkey have significantly reduced their import flat steel purchases ahead of the referendum to be held on April 16 and have adopted a wait-and-see stance as a result of the weak sentiment in the global flat steel market. Accordingly, import flat steel demand in Turkey has remained weak.
Import flat steel offers to Turkey have not changed compared to last week, with hot rolled coil (HRC) offers to Turkey from Ukraine and Russia standing at $495/mt CFR and $500-510 CFR, respectively, while cold rolled coil (CRC) offers from Ukraine and Russia are still at $565-570/mt CFR and $570-580/mt CFR, respectively.