“[The CIS] mills are mostly sold out for June production, and they have time to wait until some clarity appears in Turkey,” one trader told Fastmarkets.
The United States halved its tariff on steel imports from Turkey to 25% with effect from May 17.
This move could effectively reopen the US market for Turkish exports and stimulate steel demand in Turkey, dragging prices upward.
“We are not offering at the moment. We need...