Over the past week, demand for import flat steel in Turkey has remained slack. Buyers have concluded deals for small tonnages, though they have also continued to put pressure on prices due to their belief that prices will decrease further. However, CIS-based flat steel suppliers have been unwilling to reduce their prices as their order books are fairly full. According to market sources, import flat steel offers to Turkey are likely to soften in the short term, as domestic hot rolled coil (HRC) prices have softened and as buyers think that prices have not reached the bottom yet.
During the past week, ex-CIS hot rolled coil (HRC) and cold rolled coil (CRC) offers to Turkey have remained stable at $520-540/mt CFR and $570-595/mt CFR, respectively.