Low demand for import flat steel in Turkey

Friday, 18 January 2019 14:38:58 (GMT+3)   |   Istanbul

Import flat steel demand in Turkey has remained at low levels over the past week. It is observed that Turkish buyers of import flat steel are not in a rush to conclude new deals due to the negative outlook for the Turkish economy, though they have been continuing their price inquiries. It is heard that a Turkish pipe producer has concluded a transaction for 30,000 mt of import flat steel at $450/mt CFR, but SteelOrbis has been unable to obtain confirmation of this deal. Market sources do not expect to see a revival in Turkish mills’ demand for import flat steel in the short term, while they also state that buyers are expected to continue their purchases only in line with immediate needs due to the negative economic situation which causes problems in relation to cash flow and credit.

During the past week, ex-CIS flat steel offers to Turkey have remained stable, with hot rolled coil (HRC) prices standing at $455-480/mt CFR and cold rolled coil (CRC) prices standing at $545-565/mt CFR.

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