According to market sources, demand for import flat steel in Turkey has remained slack this week, while Turkish buyers have in particular showed interest in ex-CIS HRC offers for deals for large tonnages. Meanwhile, the import flat steel prices for Turkey announced at the beginning of October have declined by $20-25 due to buyers' firm bids, resulting in bookings of large tonnages at low prices.
However, foreign HRC dealers are unwilling to reduce their prices further for November production.
Over the past week, ex-Ukraine HRC offers to Turkey have decreased by $15/mt to $285-295/mt CFR, while ex-Russia HRC prices have decreased by $5/mt on the lower end and declined by $10/mt on the upper end to $290-300/mt CFR.
On the other hand, over the past week ex-Ukraine cold rolled coil (CRC) offers to Turkey have decreased by $15/mt to $345-355 CFR, while Russian CRC quotations have declined by $15/mt to $350-370/mt CFR over the same period.