Turkish buyers’ demand for import HRC improves slightly

Turkish steel producers have started to accept hot rolled coil (HRC) orders for February output during the past week since their order books are currently full. However, Turkish buyers have preferred to purchase import HRC instead of domestically produced products due to shorter delivery times, though they are only buying in line with their needs. As a result, demand for import HRC in Turkey has improved slightly over the past week. On the other hand, the improvement in demand has been limited amid the sharp depreciation of the Turkish lira against the US dollar and due to the ongoing uncertainties in the political arena and in Turkey's economy.
 
It is heard that this week ex-CIS HRC deals have been concluded in Turkey at $480-490/mt CFR. Meanwhile, Ukrainian HRC offers to the country have moved up by $10/mt week on week to $480-490/mt CFR. Russian HRC offers to Turkey are currently at $480-505/mt CFR, indicating an increase of $10/mt week on week.