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.
TURKEY FLAT STEEL: HRC producers offering for July production; price trending up Some hot-rolled coil producers closed their orderbooks for June production during the week ending Friday March 5 and have started to offer product in Turkey for July production at higher prices, sources told Fastmarkets. Russia, one of the main import sources for HRC to Turkey, sold two cargoes during the week and stopped accepting new orders.
The offer prices from Ukraine and China were also high, leading most market participants to believe flat steel prices will keep increasing in the coming weeks.
Domestic prices
Fastmarkets’ weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $820-850 per tonne on Friday, rising from $770-790 per tonne on February 26.
TURKEY FLAT STEEL WRAP: Strong demand pushes all prices upward in February Turkish prices for hot-rolled and cold-rolled coil increased in February 2021, with market demand strong because of low stock levels, Fastmarkets heard on Wednesday March 3. The countryâs HRC producers were fully booked until late June, while CRC producers were accepting orders for June, July and August production. They were not willing to give any discounts because of the strong local and export demand.
The price increases were as a consequence of globally strong demand, as well as rises in both the costs of raw materials and the prices of finished steel.
Turkey sold at least two cargoes of hot-rolled coil (HRC) to the United States over the week to Friday February 19, and market sources expect prices to keep increasing on strong demand in all markets, sources said.
Flat steel prices in the Turkish domestic and export markets have decreased during the week ending Friday January 15 because of low prices from China, sources have told Fastmarkets.