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Turkish flat steel market still slow on currency worries

January 24, 2014 - 14:31 GMT Location: Bursa

KEYWORDS: Turkey , HRC prices , CRC prices , investigation , exchange rate

The flat steel market in Turkey was slow this week as buyers held back from buying while the future of the country’s currency, the Turkish lira (TRY), remained uncertain.

The lira began to lose value against other hard currencies in mid-December, when a corruption investigation started in Turkey against important businessmen and government officials. It lost value against the dollar and euro very quickly, with TRY1 now equivalent to $0.4391 or...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.


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