Turkish prices for hot-rolled and cold-rolled coil increased by minimum of $100 per tonne in April supported by very strong demand in local and export markets and further price increases expected, sources told Fastmarkets on Wednesday May 5.
The country’s HRC and CRC producers are fully booked until late September and stock levels are low for most products, sources added.
Prices increased as a result of global strong demand and a shortage of slab.
China’s tax rebate removal, which was announced in late April, will also support higher steel prices, sources believe.
Fastmarkets’ daily steel hot-rolled coil, index, export, fob main port China was $918.86 per tonne on April 30, compared with $751.33 per tonne on April 1.
Crude steel output
Turkey produced 3.4 million tonnes of crude steel in March, up 9.2% year on year, according to the World Steel Association.