Even though import flat steel purchases have started this week in the local Turkish market, demand has remained on the weak side. Deals for approximately 50,000 mt of hot rolled coil (HRC) from Russia and Slovakia have been concluded in Turkey at price levels of $560-565/mt CFR, though market players remains skeptical and they believe that further deals are needed to provide support for the market trend. Meanwhile, the increased strength of the US dollar against the Turkish lira has prevented demand from picking up. Import flat steel offers for Turkey have indicated an increase of $10-15/mt as compared to offer levels given last month, though comparing to transaction levels over the past month, the new offers indicate a decline of $10-20/mt.
In the meantime, Ukrainian HRC offers for Turkey are now at $550-560/mt CFR, while Ukrainian cold rolled coil (CRC) offers are at $625-630/mt CFR. Meanwhile, ex-Russia HRC offers stand at $560-615/mt CFR, while Russian CRC offers can be found at $725-745/mt CFR. In addition, Slovakian HRC offers to Turkey are at $565/mt CFR. Meanwhile, Romanian flat steel import offers for Turkey have not been heard in the market yet.
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