TURKEY FLAT STEEL: Turkish exporters back to US market, prices rise

Turkey sold at least two cargoes of hot-rolled coil (HRC) to the United States over the week to Friday February 19, and market sources expect prices to keep increasing on strong demand in all markets, sources said.

Turkey’s exports to the US have been very limited since August 2018, when Section 232 tariffs rose to 50% for Turkish steel.
The duty was reduced back down to 25% in May 2019, but Tukey’s flat steel exports still remained limited.
Turkey exported 24,826 tonnes of hot-rolled flat steel to the US during 2020, with only 12,057 tonnes in 2019, Turkish Statistical Institute (TÜIK) data shows.
Turkish mills, however, sold over 30,000 tonnes of products this week for May production, sources told Fastmarkets.

Demand for flat steel was strong in Turkey’s domestic market, with market expectations that prices will increase more now that China has returned from the...

Published

Serife Durmus

February 19, 2021

17:44 GMT

Bursa