Demand in the Turkish hot rolled coil (HRC) market has continued to be characterized by weakness in the past seven days. After the Turkish state statistics office's announcement this week of higher-than-expected consumer price inflation for September, the Turkish lira has once again started to lose strength against the US dollar. As a result, the concerns of Turkish buyers regarding the economy have increased, they are still maintaining a cautious stance on import flat steel purchases. Market sources state that demand for import flat steel in Turkey is expected to remain at low levels in the short term, with buyers continuing to exert pressure on prices.
Under the current circumstances, ex-CIS HRC and CRC offers to Turkey have remained stable week on week at $550-570/mt CFR and $620-630/mt CFR, respectively.