TURKEY FLAT STEEL: Some prices fall on continuing lack of demand

Some steel coil prices in Turkey fell this on continued slow demand due to the continuing US import tariffs and the struggling Turkish lira, sources told Fastmarkets on Friday January 11.

Demand has been poor in the country since August 2018, when relations between Turkey and the United States deteriorated and the Turkish Lira lost value against the US dollar after US president Donald Trump's administration decided to double tariffs on imports of Turkish steel. The Turkish currency was trading at TRY100 to $18.3302 on January 11, and has struggled since falling to TRY100 to $18.98 on August 8, 2018, down from TRY100 to $28.31 a year earlier, according to exchange...


Serife Durmus

January 11, 2019

16:22 GMT