Turkish flat steel market awaits new import prices

Starting July with increased demand, buyers in the Turkish domestic flat steel market have continued to conduct business with local steel mills, while they have also been keeping a close eye on the import market where new prices are expected to be announced in the coming week. Although August output flat steel import prices have not yet appeared in the import market, the prices are anticipated to either maintain their previous levels or indicate increases.
 
The price increase expectations are based on satisfaction with the transaction volumes seen last month and also on the feeling that prices have already hit bottom. Meanwhile, ex-Ukraine flat steel offers to Turkey are expected to increase by approximately $10-20/mt, while price predictions for other offshore sources have not yet gained clarity.
 
For now, ex-Ukraine hot rolled coil (HRC) offers to Turkey are at $545-560/mt CFR, ex-Russia HRC offers are standing at $595/mt CFR, while ex-Russia cold rolled coil (CRC) offers are at $660-695/mt FOB St. Petersburg. In the meantime, Romanian HRC offers to Turkey are at $615-625/mt CFR and CRC offers from Romania are at $725-735/mt CFR.