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.