Exporters of hot-rolled coil in Turkey and the Commonwealth of Independent States have been redirecting volumes to Asia from their traditional markets such as Europe.
Steel demand and prices in Asia, notably China, started to recover in April after a slump in consumption caused by the Covid-19 pandemic. This revival happened earlier than in the other regions, where sellers in both Turkey and the CIS traditionally export HRC to.Demand in the Middle East-North Africa region and Europe - major markets for steel exports from the CIS...