Turkish flat steel market awaits new ex-CIS offers

The Turkish flat steel market has remained quiet so far in March, following comparatively higher activity in February.
 
After increases seen in import flat steel offers to Turkey last month, it is thought that these offers may show further increases in line with the trend in the Turkish domestic market. Accordingly, Ukrainian hot rolled coil (HRC) offers to Turkey at $625-635/mt CFR and Russian HRC offers at $650-675/mt CFR may both move up by about $10-20/mt.
 
Russian steel producers Magnitogorsk Iron and Steel Works (MMK) and Severstal are yet to announce their flat steel offers to Turkey, while another Russian steelmaker is offering HRC to Turkey at the price level of $690/mt CFR, while its cold rolled coil (CRC) offers are at $810/mt CFR. MMK is expected to issue its offers for the Turkish market by the middle of next week.
 
No offer has been heard from Ukraine to Turkey this week. In the meantime, market sources have told SteelOrbis that Ukraine-based Metinvest's subsidiary Ilyich Iron and Steel Works of Mariupol (Ilyich) may have already filled its order books for April production. Nevertheless, the producer may allocate further capacity in line with coming demand, according to sources. Besides, it is also heard that Ilyich production HRC may be offered via traders.