TURKEY FLAT STEEL: Prices continue to soar; demand only moderate

Domestic flat steel prices in Turkey continued to soar in the week to Friday March 12, but buyers were hesitant about booking big tonnages for July production, sources told Fastmarkets.

Hot-rolled and cold-rolled coil producers were accepting orders to be produced in July, but buyers were reluctant to have to wait a minimum of four months for large quantities. 
Most market participants said that recent price rises had been too sharp adding that the main reason was the strong demand in China, which accounts for about 50% of the global steel market.
Some Chinese steel producers had to halt production on environmental grounds, leading to further price increases.

Fastmarkets’ steel hot-rolled coil index export, fob main port China was $719.42 per tonne on March 12,...

Published

Serife Durmus

March 12, 2021

17:48 GMT

Bursa