Over the past week, demand for import flat steel in Turkey has remained slack as buyers have continued to postpone their bookings due to Ramadan, the snap election to be held in Turkey and the depreciation of the Turkish lira against the US dollar and the euro. Meanwhile, Turkish buyers have continued to exert pressure on import flat steel prices as they consider that their downward movement has not ended yet.
Remaining unchanged week on week, ex-CIS hot rolled coil (HRC) offers to Turkey are at $590-610/mt CFR, while cold rolled coil (CRC) offers from the CIS region are at $655-680/mt CFR Turkey.