Prices trend sideways in Turkish hot rolled coil import market

According to market sources, demand for hot rolled coil (HRC) imports in Turkey has remained sluggish during the past week. Market players have been purchasing only in line with their needs given the uncertainty in the market with only a week left to the general election on June 7.
 
Additionally, the previous uptrend seen in global HRC prices has been replaced by sideways movement over the past week, while Turkish buyers are still putting downward pressure on import offers. During the current week, new offers from Russia to Turkey have been heard at $385-395/mt CFR, indicating no change compared to price levels recorded a month ago. Meanwhile, Ukrainian HRC offers to Turkey have also remained unchanged in the range of $375-385/mt CFR.