Demand for import hot rolled coil (HRC) in the Turkish market is still at weak levels.
Ex-CIS HRC offers to the global market have moved upwards over the past week with the impact of the uptrend of Chinese steel export prices resulting from the increases in the Chinese futures market and due to the rises in Chinese HRC export prices following the announcement of the Tangshan government stating that production cuts have started. As a result, ex-CIS HRC offers to Turkey have increased by $15/mt on the lower end to $385-400/mt CFR.