The direction that prices will take remains a significant question, as most market participants agree that the Chinese steel sector has a direct effect on global steel pricing.
If high prices from China continue, steel prices will keep increasing, but a sudden price decrease from China will mean that prices will fall, market participants said.
The effects of Chinese price increases for hot rolled coil (HRC) exports in April 2016 were directly observed in the Turkish domestic and import HRC prices in April and May, and also in October-November 2016, sources said.
“Prices will hit $800 per tonne in April for HRC. No price fall in commodities is expected in the first quarter of 2017,” a Turkish market participant forecast in December
Turkish crude steel production came to 30.33 million tonnes in the first eleven months of 2016, a 5.13% increase from 28.85 million tonnes produced in...