Weak demand for Turkish flat steel exports

According to market sources, Turkish flat steel offers to the export markets have declined by $10/mt during the past week amid the ongoing downward pressure on prices. Foreign buyers are only concluding purchases in line with their needs amid approaching Christmas and New Year holidays and in order to reduce their inventories before the end of the year. However, despite the declines seen in export offers, demand for Turkish flat steel has remained weak. Turkish exporters' hot rolled coil (HRC) prices are currently at $300-310/mt FOB for December production, while Turkish cold rolled coil (CRC) export offers are now at $400-410/mt FOB for December production.