Import HRC and CRC offers to Turkey yet to gain acceptance

In the Turkish domestic flat steel market, demand for all product segments has reached medium levels for the first time in a long time and local producers continue to conclude sales. Many Turkish flat steel producers have filled their order books for August and have started to accept orders for September, while flat steel import offers given to the Turkish market have not gained acceptance yet. Turkish buyers have started to give counter bids in response to the first flat steel offers of foreign producers and import flat steel offer prices are expected to soften by about $15-20/mt following these counter bids. In the meantime, some foreign producers have reduced their allocations for the Turkish market.
 
Currently, Ukrainian mills' hot rolled coil (HRC) offers to the Turkish market are standing at $565-590/mt CFR, while Russian HRC offers are at $605/mt CFR and cold rolled coil (CRC) offers are at $670-720/mt CFR. On the other hand, European HRC offers to Turkey are standing at the base price level of €490-500/mt ($598-610/mt) CFR.