Turkish flat steel producers' hot rolled coil (HRC) export offers have continued to move downwards this week.
Turkish steelmakers' HRC export offers are currently standing at $610-630/mt FOB, compared to $620-630/mt FOB last week and $630-640/mt FOB two weeks ago.
It is reported that import HRC demand in Europe is currently low due to weak end-user demand and the fluctuations seen in the euro/dollar exchange rate. Thus, coupled with poor demand due to the approach of the end of year and also taking into account the existence of some competitive offers on euro basis in Europe, it is thought that Turkish mills' HRC export offers may see some further softening in the coming period.