Russian mills issue new HRC and CRC offers for Turkish market

In the Turkish flat steel market, while local buyers' interest in imports is low, Russian steel producers have issued their new flat steel price offers to the Turkish market for their September production. Ukrainian steelmakers are expected to announce their new offer levels next week. Although Russian flat steel offers have increased by about $10/mt, it is yet to be seen if the higher prices will find acceptance in the Turkish market, given the current sluggishness of the market.
 
Currently, Ukrainian steel producers' August production hot rolled coil (HRC) offers are standing at $560-565/mt CFR, while Russian producers are offering HRC at $615/mt CFR and cold rolled coil (CRC) at $680-720/mt CFR, both for September rolling. In the meantime, European producers' HRC offers to Turkey have not changed in the past three weeks and are still standing at the base price level of $620-640/mt CFR.