Turkish buyers cautious on new import HRC purchases

During the past week, demand for import hot rolled coil (HRC) in Turkey has remained at low levels. It is reported that Ukrainian steel producers who had been observing the Turkish HRC market for a while have returned to the market with new offers in the absence of Chinese mills due to the week-long holiday in China. Meanwhile, Russian HRC offers to Turkey have also increased week on week. However, Turkish buyers are still cautious about concluding new import HRC deals due to the ongoing political and economic uncertainties in Turkey.
 
Accordingly, Russian HRC offers to Turkey for November output have increased by $25/mt on the lower end week on week to $425-430/mt CFR, while Ukrainian suppliers' HRC offers to Turkey for November output are currently at $415/mt CFR. Additionally, ex-CIS cold rolled coil (CRC) offers to the same destination have remained stable during the past week at $440-470/mt CFR.