It is observed that import flat steel demand in Turkey has remained at low levels over the past week with buyers exerting downward pressure on prices, as they have postponed their purchases amid the ongoing fall in global hot rolled coil (HRC) quotations and also due to the approaching new year. In line with the fiercer competition observed in the global steel market, CIS-based HRC suppliers have reduced their export prices, and so import flat steel offers to Turkey have decreased week on week. Since the downtrend of global HRC quotations has continued and given the approach of the year-end, market sources do not expect any revival in import flat steel demand in Turkey in the short term despite the lower price levels.
In the given week, ex-CIS HRC offers to Turkey have moved down by $20/mt week on week to $480-510/mt CFR, while cold rolled coil (CRC) offers from the CIS region to Turkey have decreased by $10/mt week on week to $580-600/mt CFR.