Demand for import hot rolled coil (HRC) in Turkey has remained slack this week, while no new import HRC offer has been heard in the market in the same period. Meanwhile, HRC offers from CIS-based exporters to the global markets have decreased by $40/mt week on week to $410-430/mt FOB. Accordingly, ex-CIS HRC offers to Turkey are not expected to remain unchanged at the price levels of two weeks ago, but instead are foreseen to move downwards in the coming days.
Meanwhile, ex-India HRC offers to Turkey have been heard at $465-475/mt CFR this week, but have failed to attract interest since Turkish buyers are maintaining a wait-and-see stance.