Latest situation for Turkey’s flat steel exports

Demand for Turkish flat steel exports has remained slack over the past week. Turkish hot rolled coil (HRC) offers to the export markets have remained unchanged during the given week in the range of $390-400/mt FOB, while Turkish cold rolled coil (CRC) export offers are still at $520-525/mt FOB, both for June production. Turkish producers state that buyers' interest in imported flat steel has failed to improve in the European market, Turkish producers' biggest export destination for flat steel, though the euro has gained strength against the US dollar. Competition is still strong in Turkey's other target markets due to attractive Chinese and CIS-based flat steel offers. However, market sources expect Chinese and CIS-based dealers to adjust their prices upwards amid rapidly rising iron ore prices.