SteelOrbis has been informed that CIS-based flat steel mills increased their offer prices to Turkey at the beginning of the current week amid the ongoing uptrend of the local Turkish flat steel market and also due to the sustained high levels of raw material prices. With the Chinese market opening again after its New Year holiday, flat steel export offers from China increased sharply at the beginning of the current week, but this trend has not continued in the following days, and so the price policy of Chinese suppliers is still unclear. This has caused CIS-based producers to avoid giving further export offers.
At the beginning of the current week, ex-CIS hot rolled coil (HRC) offers to Turkey increased by an average of $30/mt to $515-530/mt CFR, while cold rolled coil offers from the CIS region to Turkey moved up by an average of $12.5/mt to $565-590/mt CFR. However, in subsequent days no new offers from the CIS region to Turkey have been heard in the market.