TURKEY FLAT STEEL: Buyers, sellers look to global market amid uncertainty

Flat steel buyers and sellers in Turkey are questioning what will happen in global markets in the coming week, after the country's imported flat steel prices decreased in the week to Friday May 28 but local producers were firm on prices.

Price changes in China were behind the uncertainty.
Hot-rolled coil prices from China started decreasing on May 12 due to the government's call for stable commodity prices.
But  on May 28, prices increased by $26.81 per tonne amid uncertainty about whether China will impose an export tariff on HRC.
Fastmarkets' steel hot-rolled coil index export, fob main port China was calculated at $907.40 per tonne on May 28, up by 3.04% from $880.59 per tonne on May 27 but down by 4.69% from $952.08 per tonne on May 21.

The question raised by Turkish market participants this past week was whether global prices,...

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