TURKEY FLAT STEEL WRAP: All prices increase in November, demand strong

All Turkish flat steel prices increased in November 2020 with demand being strong throughout the month because of low stock levels, Fastmarkets heard on Wednesday December 2.

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.
Domestic prices
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...


Serife Durmus

December 02, 2020

20:28 GMT