TURKEY FLAT STEEL WRAP: Prices up in November, demand improves on re-stocking

Demand for flat steel products in Turkey was strong in November because of purchases for re-stocking, market participants told Fastmarkets on Wednesday, December 4.

Local producers have now filled their order books until late February, sources added, and have started to accept orders for early-March production.
Local demand was weak in Turkey in October because of decreasing prices, but improved in November when global prices started to rise.
And in the domestic flat steel sector, market participants believed that prices will go up further because of the now-high scrap prices.
Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $280.58 per tonne on December 3, compared with $254.80 per tonne on November 1.
Turkey’s export markets were slow in November because they were limited by quota allocations.
But Turkish producers also increased their prices too sharply, and buyers said that they were not ready to accept such steep rises.

The European Commission (EC) decided on October 26 that no exporting country would...

Published

Serife Durmus

December 04, 2019

14:20 GMT

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