Inquiries for Turkish flat steel exports fail to turn into deals
Friday, 20 September 2013 17:49:52 (GMT+3)
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Istanbul
Turkey's flat steel export activity, which had indicated some signs of recovery recently, has now become stagnant since inquires have not turned into deals at the expected levels. Keeping their offers unchanged for the export markets, Turkish mills have started to keep a close eye on the situation regarding troubled Italian producer Ilva and on the possibility of downticks in Chinese flat steel export offers. Last year when the an Italian court have decided to halt production at Ilva, demand for Turkish flat steel export offers had increased substantially and prices had moved up. Meanwhile, when Chinese flat steel prices declined, Turkish mills had been obliged to reduce their offers in order to compete in the global markets.
Turkish mills' export offers for hot rolled coil (HRC) are still at $580-600/mt FOB, while their export offers for cold rolled coil (CRC) are at $690-710/mt FOB.
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