Flat steel imports face sluggish demand in Turkish market

Demand for flat steel imports in Turkey has remained sluggish over the past week. After the $10/mt price increase announced by Turkish producers this week, transactions in the local market have slowed down significantly, while buyers have adopted a wait-and-see stance. No new transaction has been concluded at Turkish producers' new price levels yet. Meanwhile, flat steel import prices for Turkey have remained unchanged compared to last week. Next week, Turkish hot rolled coil (HRC) and cold rolled coil (CRC) buyers are expected to start their restocking activities and so a slight revival of demand is anticipated.
 
Import flat steel offers to Turkey have remained unchanged during the past week. Russian HRC offers have stayed at $405-415/mt CFR, while Russian CRC offers are still in the range of $480-500/mt CFR. Moreover, Ukrainian HRC offers to Turkey are unchanged at $395-405/mt CFR, while Chinese HRC offers to the same destination are still in the range of $390-400/mt CFR Turkey.