TURKEY FLAT STEEL WRAP: Demand improves in February but price moves vary

Demand for flat steel products in Turkey improved in February because end-user stock levels were low, market participants told Fastmarkets on Wednesday March 4.

Sources added that local producers have now filled their order books until late April.
Local demand was moderate in Turkey in February because buyers placed orders only to replenish their stocks. The market was now uncertain about the direction prices will take, so buying slowed down toward the end of February.
At least 33 Turkish soldiers were killed on February 27 in a military incident in Syria, where they were supporting Syrian anti-government forces, and in the political fallout the exchange-rate value of the Turkish lira sharply lost ground against the US dollar on February 28.
The Turkish lira was trading at 100 lira to $16.19 on February 28, compared with 100 lira to $16.40 on February 21, according to Oanda.com. On March 4, 100 lira was trading at $16.24.
Imports, exports
Scrap import prices increased during February.

Fastmarkets’ daily index for steel scrap, HMS 1&2...

Published

Serife Durmus

March 04, 2020

18:30 GMT

Bursa