TURKEY FLAT STEEL: Market caution ramps up as US doubles tariff [UPDATE]

Demand for flat steel products has remained weak in Turkey’s domestic market while demand in the export markets also softened, sources told Metal Bulletin on Friday August 10.

[Adds more information of HRC export prices] Demand for flat steel products has remained weak in Turkey’s domestic market while the export markets have also softened, sources told Metal Bulletin on Friday August 10. Domestic producers are now offering material from late-October production. But buyers were cautious about booking material because of the uncertainty created by US President Donald Trump’s decision to increase his country’s import tariff for Turkish steel to 50% from the previous 25%, announced on August 10. The Turkish lira has continued to lose value during the past week. The daily exchange rate was TRY100 to $18.39 on August 10, according to exchange rate website Oanda.com. But the...

Published

Serife Durmus

August 10, 2018

18:02 GMT

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