Trading activity for import flat steel in Turkey is very slack this week due to the ongoing holidays in the global market and due to the rapid strengthening of the US dollar against the Turkish lira. While domestic hot rolled coil (HRC) prices in Turkey have moved upwards, market players expect that after the holidays flat steel offers from overseas suppliers will remain stable due to the softening of prices of coking coal, iron ore and Chinese hot rolled coil (HRC).
In the current week, ex-CIS flat steel prices have remained stable. Ukrainian HRC offers to Turkey are still at $510/mt CFR, while Russian HRC offers to the same destination have remained stable at $520-530/mt CFR. Additionally, Ukrainian and Russian cold rolled coil (CRC) offers to Turkey have remained unchanged during the past week at $580-590/mt CFR and $590-610/mt CFR, respectively.