During the past week, demand for import flat steel in Turkey has been weak. As the Turkish government on Wednesday, April 18, announced its decision to hold an early election, buyers have started to adopt a cautious stance about concluding new deals, while the ongoing declines seen in global flat steel prices have also negatively impacted import flat steel demand in Turkey. Also, the declines seen in global flat steel prices have caused import flat steel offers to Turkey to move downwards. Market sources state that Turkish buyers prefer to conclude import flat deals only to meet their immediate needs and are seeking to avoid building up their inventories.
Accordingly, ex-CIS hot rolled coil (HRC) offers to Turkey have increased by $10/mt week on week to $600-630/mt CFR, while ex-CIS cold rolled coil (CRC) prices to the same destination are still at $655-680/mt CFR.