Demand for flat steel was soft in Turkey in the week ended Friday November 1, with import prices for both hot-rolled coil and cold-rolled coil going down, although domestic and export prices remained unchanged.
Flat steel buyers wanted to see if producers will insist on high prices when demand is weak and whether any increases will stick, given the poor demand from final-product users. They were expecting price increases because of the rising cost of scrap raw material.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey, was at $247.89 per tonne on October...