TURKEY FLAT STEEL WRAP: Prices down in September, demand remains weak

Demand for flat steel products in Turkey was weak in September 2019 because of global price falls, market participants have told Fastmarkets.

And local producers have now filled their order books until late November, they said on Wednesday October 2.
Turkish steel prices increased on May 17 after the import duty into the United States, which had been applied at a rate of 50% in September 2018, was cut back to the previous level of 25%.
But there was not enough demand to support these price increases, and the Turkish export markets were also slow in September because of falling prices globally.
These price falls were expected to continue.
Görkem Bolaca, chief executive officer of global steel trading company Galex Steel, believed that prices for hot-rolled coil would reach $380 per tonne within a couple of months.

In addition, the European Commission decided on September 26 to set a limit of 30% of the overall total for any country exporting hot-rolled (HR) flat steel to Europe....


Serife Durmus

October 02, 2019

18:10 GMT