According to market sources, Turkish flat steel exports have continued to be characterized by slack activity over the past week. Turkish steel producers' hot rolled coil (HRC) export offers have declined by $20/mt since last week to $440-450/mt FOB, while their cold rolled coil (CRC) prices have decreased by $40/mt to $520-530/mt FOB over the same period. Turkish CRC offers have softened following the downtrend in HRC export prices and the usual price gap of $100/mt between the two products has narrowed and is now at $80/mt. However, the export prices in question have not gained acceptance in foreign markets since demand has nearly come to a halt, even in leading export markets such as Morocco, Algeria and Tunisia. Market players state that currently ex-CIS HRC export offers are at $400-405/mt FOB, while CRC offers from the region are at $480-500/mt FOB, with these levels significantly lower than Turkish producers' flat steel export prices.
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