Turkish flat steel producers are now fully booked until late March, with trading sources reporting that the market was strong during November because of a global shortage in some flat steel products and strong demand in Asia, mainly China.
Current demand in China was strong because of low inventory levels, with prices at 26-month highs
Fastmarkets’ daily steel hot-rolled coil index, export, fob main port China
, was $598.95 per tonne on December 2, compared with $518.60 on November 2.
Crude steel output
Turkey produced 29.1 million tonnes of crude steel in January-October 2020, a 4.2% year-on-year increase, the Turkish Steel Producers’ Association (TÇÜD) said on December 2.
Most Turkish hot-rolled and cold-rolled flat steel prices went up in November due to the strong demand, sources said.
Fastmarkets’ weekly price assessment for steel HRC, domestic, exw Turkey, was $660-670 per tonne on November...