TURKEY FLAT STEEL: Prices dip while buyers prefer to wait for clues on price direction

Turkish hot-rolled coil and cold-rolled coil prices dipped slightly in the week to Friday January 22 in Turkey, with buyers preferring to wait and see if the declines are the start of a downturn, sources told Fastmarkets.

Some Turkish producers closed their order books for April production this week, with May production prices yet to be announced. And other producers were still accepting orders for April production.
One of the main reasons for the drop in prices was the decline in scrap costs.
Fastmarkets’ daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was $432.61 per tonne on January 22, falling from $455.33 per tonne on January 15.
HRC prices from China also continued to fall during the week.

Fastmarkets’ steel hot-rolled coil index export, fob main port China was $640.59 per...


Serife Durmus

January 22, 2021

17:35 GMT