Demand for import flat steel in Turkey is observed to have increased slightly over the past week, while import flat steel prices have maintained their uptrend in this period. Turkish buyers have mostly completed their restocking purchases, though the Turkish mills which still need material prefer import products due to more attractive prices. Last week, import hot rolled coil (HRC) deals in Turkey at $520-525/mt CFR were heard in Turkey. However, SteelOrbis has failed to obtain confirmation for the import HRC transactions concluded at the price level of $520/mt CFR. Market sources state that buyers are not expected to rush to conclude new purchases amid lower scrap quotations, but instead they will likely just monitor global flat steel prices.
Under the current circumstances, ex-CIS HRC offers to Turkey have increased by $10/mt on the lower end and by $15/mt on the upper end week on week to $525-545/mt CFR. Meanwhile, ex-CIS cold rolled coil (CRC) offers to Turkey have moved up by $10/mt week on week to $575-600/mt CFR.