TURKEY FLAT STEEL: Prices push up but demand remains weak

Some steel coil prices in Turkey increased this week because of the high cost of scrap and other global price increases, but demand continued to be low, sources told Fastmarkets on Friday January 25.

Demand has been poor in the country since August 2018, when relations between Turkey and the United States deteriorated. The Turkish lira lost value against the US dollar after US President Donald Trump’s administration decided to double the tariff on imports of Turkish steel. But steel producers started to raise their prices this week because of the scrap price increases. Fastmarkets’ daily index for Northern Europe-origin HMS 1&2 (80:20) was calculated at $284.67...

Published

Serife Durmus

January 25, 2019

14:58 GMT

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