Coated-steel prices in Turkey continued to increase in the week ended Friday February 8, with some producers continuing to close their sales books because they were short of the hot-rolled coil (HRC) used as a base material.
Coated-steel producers had low stocks of HRC, and chose to wait and see how much the price of HRC would increase before announcing their new prices for coated coil, sources told Fastmarkets.Prices for coated steel may move up more if HRC prices also increase, some coated-coil producers said.Steel prices have been increasing globally because of raw material price increases. Raw material prices have increased as a result of the rupture...