Over the past week, demand for import flat steel in the Turkish market has remained weak. Declines in import hot rolled coil (HRC) offer prices to Turkey for the third consecutive week have strengthened buyers’ expectations for further decrease in prices and so they are in no rush to make purchases.
Ukrainian HRC offers to Turkey have decreased by $5/mt on the lower end to $555-570/mt CFR and Russian HRC offers to Turkey have declined by $10/mt to $560-570/mt CFR, both week on week. Meanwhile, Ukrainian and Russian cold rolled coil (CRC) offers to Turkey have remained stable week on week, with prices still at $600-610/mt CFR and at $600-620/mt CFR, respectively.