Turkish prices for flat steel products increased during May 2021, but the direction of price movements in June will depend on global price trends, especially in China, sources told Fastmarkets on Wednesday June 2.
Turkish prices for flat steel products increased during May 2021, but the direction of price movements in June will depend on global price trends, especially in China, sources told Fastmarkets on Wednesday June 2.
TURKEY FLAT STEEL: August production almost sold out, prices above $1,000 per tonne Producers of both hot- and cold-rolled coil in Turkey have almost filled their order books for August production, and some started offering for September production during the week ending Friday April 16, at prices of more than $1,000 per tonne, sources have told Fastmarkets. Demand was strong in the local and export markets for Turkish flat steel.
Russia, one of the biggest suppliers of flat steel to Turkey, did not offer any material during the week, and offers from China and Ukraine were at high prices.
Domestic prices
Fastmarkets’ weekly price assessment for steel hot-rolled coil, domestic, exw Turkey, was $1,020-1,030 per tonne on April 16, rising from $970-980 per tonne on.
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.