TURKEY LONG STEEL: Weakening lira leads to sharp rise in domestic prices

Domestic long steel prices in Turkey continued to increase in the seven days to Thursday April 1, due to the weakening Turkish lira and despite very limited demand, sources told Fastmarkets.

The lira started a sharp decline at beginning of last week, following the surprise sacking of the central bank chief Naci Agbal by president Recep Tayyip Erdogan and the subsequent appointment of finance specialist and former deputy of Erdogan’s own AKP political party, Sahap Kavcioglu. The Turkish lira was trading at 8.283 lira to $1 on...

Published

Cem Turken

April 01, 2021

14:47 GMT

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