Demand for flat steel will remain moderate in Turkey in February and price increases are unlikely because raw material prices are falling and end-user demand is unremarkable, market participants told Metal Bulletin.
Metal Bulletin assessed the price of hot-rolled coil (HRC) at $630-635 per tonne ex-works on Friday February 2, down at the high end from $630-640 per tonne in the previous assessment but up from $620-630 at the start of the year."Prices for April production will soon be lower than for March sales [which were $620-630 per tonne ex-works]," an executive at a steel service center predicted on Friday February 2. "The market will remain silent for at least one more month. Scrap prices are also decreasing so a price fall for flat steel is inevitable," the executive added.Although demand is weak, high prices globally are preventing price falls in Turkey, a trader said."Demand is not very strong but export markets are good. That is why producers do not reduce their prices," another trader said. But the country's flat steel production is likely to increase further because buyers prefer local products...