This week, ex-Russia and ex-Ukraine flat steel offers to Turkey have increased slightly by $5/mt amid the uptrend in Chinese flat steel offers to export markets. With this uptrend, Russian and Ukrainian hot rolled coil (HRC) offers to Turkey have started to range at $430-435/mt CFR and $420/mt CFR respectively, while ex-CIS cold rolled coil (CRC) offers to Turkey have increased to $445-475/mt CFR
However, Turkish buyers prefer to meet their needs for flat steel products from domestic market instead of imported products with long lead times, due to the uncertainty about the maintenance of higher import flat steel prices and since they think that prices may move downwards in the coming period. Therefore, demand in Turkish import flat steel market is on the weak side.