Over the past week, demand for import flat steel in Turkey has remained slack since buyers have continued to adopt a cautious stance towards new bookings amid the negative economic situation in the country. After CIS-based flat steel suppliers started to return from Orthodox Christmas holiday in mid-week, Turkish buyers have stepped up their price inquiries though they are still just seeking to meet their immediate needs and have continued to exert downward pressure on prices. As a result, ex-CIS flat steel offers to Turkey have decreased slightly. According to market sources, import flat steel offers to Turkey are not expected to decrease further in the short term and CIS-based suppliers are expected to try to maintain their current price levels, just like Chinese suppliers, until the outcome of the US-China trade negotiations.
In the given period, ex-CIS hot rolled coil (HRC) offers to Turkey have decreased by $10/mt to $455-480/mt CFR, while ex-CIS cold rolled coil (CRC) prices have declined by $15/mt to $545-565/mt CFR, respectively.