TURKEY FLAT STEEL WRAP: Strong demand pushes all prices upward in February

Turkish prices for hot-rolled and cold-rolled coil increased in February 2021, with market demand strong because of low stock levels, Fastmarkets heard on Wednesday March 3.

The country’s HRC producers were fully booked until late June, while CRC producers were accepting orders for June, July and August production. They were not willing to give any discounts because of the strong local and export demand.
The price increases were as a consequence of globally strong demand, as well as rises in both the costs of raw materials and the prices of finished steel.
Fastmarkets’ daily steel HRC index, export, fob main port China, was $719.53 per tonne on March 3, compared with $644.11 per tonne on February 1.
And the daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was $450.49 per tonne on March 2, rising from $407.95 per tonne on February 1.
Crude steel output

Turkey produced 3.4 million tonnes of crude steel in January 2021, a 12.7% year-on-year increase, according to...


Serife Durmus

March 03, 2021

15:25 GMT