Import HRC and CRC demand low in Turkey, new price levels expected

The Turkish import flat steel market, which has closed July with low demand and transaction volumes, has now started to await new price levels. In the meantime, some executives from the Italian steel producer Ilva have been placed under house arrest while prosecutors have ordered the partial closure of the plant, and so all eyes in the market are focused on developments in Italy. Uncertainty still surrounds the likely new price levels in the import market.
 
Meanwhile, Ukrainian mills' hot rolled coil (HRC) offers to the Turkish market are standing at $560-565/mt CFR, while European HRC offers to Turkey are standing at the base price level of $620-640/mt CFR. On the other hand, Russian HRC offers are still at $605/mt CFR and ex-Russia cold rolled coil (CRC) offers are at $670-720/mt CFR.