TURKEY FLAT STEEL WRAP: Some prices fall as demand weakens

Demand for flat steel in Turkey is expected to remain slow throughout September, but prices are not expected to fall because there is strong export demand, market participants told Metal Bulletin on Thursday September 6.

Local producers have filled their order books until the end of October, and are planning to increase their prices for November bookings, despite weak local demand.
On August 10, United States President Donald Trump authorized higher tariffs on his country’s imports from Turkey, doubling them to 20% on aluminium and 50% on steel.
“I have just authorized a doubling of tariffs on steel and aluminium with respect to Turkey as [its] currency, the Turkish lira, slides rapidly downward against our very strong dollar,” Trump said on social media on August 10.
“Aluminium will now be [subject to duty at] 20% and steel [at] 50%. Our relations with Turkey are not good at this time,” he added.
Turkey requested dispute consultations with the US at the World Trade Organization (WTO) regarding the doubled tariffs, the trade group said on August 20.

The lira lost a significant proportion of its value...


Serife Durmus

September 06, 2018

18:28 GMT