Some flat steel prices in Turkey's import markets fell this week, with demand remaining limited, market participants told Metal Bulletin on Friday May 11.
Most domestic producers closed their order books for June production and have not announced new prices for July output. And with the Turkish lira continuing to lose value against other currencies during the week, imports are becoming increasingly expensive. The lira was trading at 4.25 lira to $1 on May 11, down from 3.98 lira to $1 on April 4, according to Oanda.com. Additionally, Turkey is holding general and presidential elections on June 24, and this is bringing more uncertainty to the market, sources said. Domestic prices...