Transaction activity still weak in Turkish flat steel import market

According to market sources, transaction activity in the flat steel import market in Turkey has remained sluggish over the past week. Market players prefer to conclude purchases from local producers, while import transactions are observed for just small tonnages.
 
With offers announced for May production, Russian hot rolled coil (HRC) offers to Turkey have declined by $15/mt compared to last week to $390-400/mt CFR, while cold rolled coil (CRC) offers to the same destination have remained unchanged in the same period in the range of $480-500/mt CFR. Meanwhile, Ukrainian HRC and CRC offers to Turkey have moved sideways since last week at $375-385/mt CFR and $465-475/mt CFR, respectively.
 
No new Chinese offers to Turkey on CFR basis have been heard in the market yet. Chinese HRC offers to the global market have softened by $10/mt compared to last week to $360-380/mt FOB, while Chinese CRC export offers are currently in the range of $415-435/mt FOB.