Flat steel import offers for Turkey found to be on the high side

In the current week, buyers in the flat steel import market in Turkey have started to make firm bids to overseas suppliers. Market sources state that just a few inquiries have led to transactions despite busier negotiations, with demand for flat steel imports in Turkey remaining slack. Turkish producers have failed in their efforts to keep their local prices stable over the past week amid falling iron ore prices, while import offers are considered to be on the high side.
 
Russian hot rolled coil (HRC) and cold rolled coil (CRC) offers to Turkey have remained unchanged over the past week at $405-415/mt CFR and $480-500/mt CFR, respectively, while buyers' firm bids are currently in the range of $390-395/mt CFR. On the other hand, Ukrainian HRC offers to the same destination have declined by $10/mt since last week to $385-395/mt CFR but firm bids of buyers are in the range of $370-390/mt CFR. Meanwhile, Chinese HRC offers to Turkey have moved sideways compared to last week in the range of $390-400/mt CFR Turkey.