This week, three different flat steel import transactions have been heard in the Turkish market but after these deals demand for flat steel imports in Turkey has remained at low levels. In the deals in question, an Ukrainian steelmaker concluded a hot rolled coil (HRC) deal to Turkey at $270/mt CFR, while a Turkish pipe producer concluded an ex-Russia purchase of 30,000 mt of HRC at $275/mt CFR. On the other hand, a Russian steel producer sold approximately 10,000 mt cold rolled coil (CRC) to a Turkish buyer at $320/mt CFR. With this sale, the ex-Russia CRC price declined sharply on the lower end compared to the price levels recorded last week. Turkish buyers are only concluding transactions in line with their immediate needs, while expectations of a decline in import flat steel offers have strengthened after the sharp price fall seen in the ex-Russia CRC booking in question.
Ukrainian and Russian hot rolled coil (HRC) offers to Turkey have remained unchanged during the past week at $260-270/mt CFR and $265-275/mt CFR, respectively, for February production.
On the other hand, Ukrainian cold rolled coil (CRC) offers to Turkey have remained unchanged week on week in the range of $325-335/mt, while Russian cold rolled coil (CRC) offers to the same destination have declined by $15/mt on the lower end over the past week to $320-355/mt CFR, also for February production.
Meanwhile, Iranian HRC offers to Turkey have moved sideways in the same period and are still at $280-285/mt CFR.