Lower flat steel import offers turn into bookings in Turkish market

After making a quiet start to June, the Turkish flat steel import market has witnessed several import transactions this week, as foreign producers, mostly from the CIS, have succeeded in attracting the interest of Turkish buyers with significant cuts in their flat steel prices for July production. Gradual decreases in the flat steel inventories of Turkish buyers, who had been keeping their purchases of materials as low as possible for quite a while, have also contributed to the increased import activity.
 
As of today, Ukrainian steel producers' hot rolled coil (HRC) offers to the Turkish market are standing at $545-560/mt CFR, while Russian mills' HRC offers to Turkey are at $595/mt CFR and their cold rolled coil (CRC) export offers are at $660-695/mt FOB St. Petersburg. In the meantime, Romanian origin HRC offers to the Turkish market are standing at the price range of $615-625/mt CFR.