Negotiations for import flat steel purchases begin in Turkey

Even though ex-Russia and ex-Ukraine flat steel prices for December production have not been announced yet, negotiations between buyers and sellers have started to be heard in the import flat steel market in Turkey. Even though no import flat steel deals have been heard in Turkey where demand is weak, there has been a sharp rise in buyers' inquiries. Buyers have continued to exert pressure on import flat steel offers, though sellers are not likely to accept buyers' firm bids for now.
 
This week, a price offer for hot rolled coil (HRC) during negotiations between a Turkish buyer and a Russian seller was heard at $280/mt CFR, while the buyer's firm bid was at $270/mt CFR. On the other hand, another Turkish buyer and a Ukrainian seller also negotiated on HRC prices, with the buyer's firm bid at $260/mt CFR.
 
The most recent ex-Ukraine and ex-Russia HRC deals concluded in Turkey were at $285-295/mt CFR and $290-300/mt CFR, respectively. 
 
On the other hand, the latest Ukrainian and Russian cold rolled coil (CRC) deals in Turkey were concluded in the ranges of $345-355/mt CFR and $350-370/mt CFR, respectively.