During the past two weeks, demand for import flat steel in Turkey has remained at low levels. Domestic hot rolled coil (HRC) quotations in Turkey have increased as Turkish buyers accelerated their purchases before the end-of-Ramadan holiday, and also due to Turkish mills’ increased export sales. Accordingly, import flat steel offers to Turkey have risen amid higher domestic HRC prices and expectations of restocking by Turkish buyers - whose inventories are currently at low levels - after the snap elections to be held on Sunday, June 24.
Over the past two weeks, ex-CIS hot rolled coil (HRC) to Turkey have increased by $15/mt to $575-595/mt CFR, while cold rolled coil (CRC) prices have moved up by $10/mt to $620-650/mt CFR.