TURKEY FLAT STEEL WRAP: Strong demand pushes prices higher

Prices for Turkish flat steel products increased in March, supported by very strong demand in local and export markets, Fastmarkets heard on Monday April 5.

The country’s hot-rolled and cold-rolled coil producers are fully booked until late July, and HRC prices will soon touch $1,000 per tonne, sources believe.
Price increases were a result of strong global demand and growing finished steel prices.
Fastmarkets’ daily steel hot-rolled coil index export, fob main port China was calculated $779.47 per tonne on April 2 compared with $700.30 per tonne on March 1.
A global slab shortage was another factor affecting flat steel prices.
Crude steel output
Turkey produced 3 million tonnes of crude steel in February, a 5.90% year-on-year increase, according to the Turkish steel Producers’ Association (TÇÜD).
Turkey maintained its position as the seventh-largest global steel producer in January-February, TÇÜD said.
Domestic prices
Turkish hot-rolled and cold-rolled flat steel prices increased sharply in March.

Fastmarkets’ weekly price assessment for steel hot-rolled coil domestic, exw Turkey was $930-950 per tonne...


Serife Durmus

April 05, 2021

18:34 GMT