In line with producers' price reductions seen in the Turkish domestic flat steel market, Turkish mills' export offers have also decreased this week. However, despite these price cuts, there is not much interest in these export offers.
Turkish steel producers' hot rolled coil (HRC) export offers have declined to $650-660/mt FOB this week, decreasing by $10/mt on the upper end as compared to last week. However, given HRC prices stand at around €490-500/mt ($681-695/mt) ex-works in Europe, where demand fails to impress, Turkish mills' HRC offers remain high in the European market, when freight and other costs are involved.