Demand for import flat steel in Turkey has remained weak over the past two weeks, while import hot rolled coil (HRC) prices have followed a fluctuating trend. Ex-CIS flat steel prices first moved down on FOB basis and so ex-CIS hot rolled coil (HRC) prices for Turkey decreased on CFR basis as well, while later, with the ongoing increase in Chinese flat steel prices and improved ex-CIS flat steel sales to the global markets during the first three weeks of the month, ex-CIS HRC prices for Turkey switched to an upward trend. During the past two weeks in question, cold rolled coil (CRC) export prices from the CIS region to Turkey have remained stable.
Over the past two weeks, Ukrainian HRC offers to Turkey have moved down by $5/mt on the lower end to $455-460/mt CFR, while Russian HRC offers have moved up by $5/mt on the upper end to $465-475/mt CFR. Meanwhile, Ukrainian and Russian CRC offers to Turkey remained at $500-505/mt CFR and $510-520/mt CFR respectively in the given period.