Flat steel prices decrease in Turkey on economic uncertainty

Flat steel prices decreased in Turkey during the week to Friday November 26, pressured lower by weakening demand stemming from economic uncertainty, sources told Fastmarkets.

The Turkish lira has been losing value recently, following the central bank's cuts to the benchmark interest rate in both October and November.
The currency was at 11.9630 lira to $1 on November 26 compared with 10.520 lira to $1 on November 18, according to exchange rate website Oanda.com. 
Because flat steel sales are conducted in US dollars, this has made buyers hesitant to book large quantities, sources said.

Still, demand from some end-use...

Published

Serife Durmus

November 26, 2021

17:22 GMT

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