CIS FLAT STEEL: Market frozen, awaiting turn in Turkish demand

The market for exports of hot-rolled coil (HRC) and cold-rolled coil (CRC) from the Commonwealth of Independent States (CIS) was frozen on Monday May 20 because suppliers preferred wait for more clarity to emerge in Turkey, the key outlet.

“[The CIS] mills are mostly sold out for June production, and they have time to wait until some clarity appears in Turkey,” one trader told Fastmarkets.
The United States halved its tariff on steel imports from Turkey to 25% with effect from May 17.
This move could effectively reopen the US market for Turkish exports and stimulate steel demand in Turkey, dragging prices upward.

“We are not offering at the...


Marina Shulga

May 20, 2019

16:25 GMT