During the past week, demand for import flat steel has remained weak in the Turkish market, while buyers have continued to make purchases only to meet their needs. However, having seen significant increases in their export sales, Turkish hot rolled and coated steel producers have been preparing to increase their domestic prices, causing Turkish buyers to increase inquiries for import offers. Meanwhile, following the increase in their export sales, Turkish producers have not responded to price pressure coming from Turkish buyers who for a long time now have considered domestic flat steel prices to be on the high side, especially given the sluggishness of domestic demand.
In the past week, Russian hot rolled coil (HRC) and cold rolled coil (CRC) offers to Turkey remained stable at $490-500/mt CFR and $570-580/mt CFR, respectively. Also, Ukrainian HRC and CRC offers to Turkey have not changed and are still at $490/mt CFR and $565-570/mt CFR, respectively. Meanwhile, in the past week, a Ukrainian steel producer concluded a CRC sale to Turkey at $570/mt CFR.