Following the end-of-Ramadan holiday, import flat steel demand in Turkey has recovered slightly over the past week and price inquiries have continued to be made. Ex-CIS flat steel offers to Turkey have moved up in line with global flat steel and raw material prices. Meanwhile, it is believed that the upticks in global flat steel prices have not yet been fully reflected in CIS-based suppliers’ prices. As a result, ex-CIS flat steel prices will likely continue their upward trend in the coming days.
During the past week, Ukrainian and Russian hot rolled coil (HRC) offers to Turkey have moved up by $10/mt to $465-470/mt CFR and $475-485/mt CFR, respectively. Meanwhile, Ukrainian and Russian cold rolled coil (CRC) offers to Turkey have also increased by $10/mt week on week, rising to $520-525/mt CFR and $530-540/mt CFR, respectively.