Over the past week, demand for import flat steel in Turkey has remained weak, while import flat steel prices have decreased further. While Turkish buyers continued to postpone their bookings in order to monitor the price trends in the global market, CIS-based hot rolled coil (HRC) and cold rolled coil (CRC) dealers have reduced their prices in order to accelerate their sales. However, Turkish buyers continue to exert downward pressure on prices despite the reductions made.
Accordingly, Ukrainian hot rolled coil (HRC) offers to Turkey have declined by $12.5/mt on average to $540-545/mt CFR and Russian HRC offers to Turkey have decreased by $10/mt to $540-550/mt CFR, both week on week. Meanwhile, Ukrainian and Russian cold rolled coil (CRC) offers to Turkey have declined by $10/mt week on week and now are at $580-590/mt CFR and at $580-600/mt CFR, respectively.