During the past week, demand in the import flat steel market in Turkey has remained slack, while buyers have continued to exert downward pressure on prices with the anticipation that global flat steel prices will decrease in line with the soft trend of global raw material prices. However, CIS-based suppliers have been unwilling to decrease their prices until the Chinese New Year holiday is concluded and so their prices have remained stable.
Ex-CIS flat steel offers to Turkey have moved sideways over the past week, with hot rolled coil (HRC) and cold rolled coil (CRC) offers still at $610-620/mt CFR Turkey and $650-670/mt CFR, respectively.