Import flat steel offers to Turkey expected to move upwards

European and CIS flat steel producers, who are yet to announce their new offers after the New Year holiday, are expected to cause a revival in market activity with their new offers next week.
 
Russian steel producers are anticipated to raise their hot rolled coil (HRC) offers to Turkey by $20-30/mt, from $600-630/mt CFR in December, while Ukrainian producers are expected to increase their HRC offers for the Turkish market to $600-610/mt CFR. In December, Ukrainian HRC offers to Turkey were at $570-580/mt CFR for January rolling.
 
Next week, Italian and Romanian flat steel producers are also expected to announce increases in their new offers to Turkey. Accordingly, these producers' HRC offers to Turkey, which were at $605-620/mt CFR in December, are foreseen to reach $630-650/mt CFR.
 
As for cold rolled coil (CRC), import offers to Turkey, which are currently at $750/mt CFR, are predicted to see a similar increase to HRC prices. However, even with the anticipated increase, it is thought that these offers will remain lower than local CRC prices in Turkey.