Most flat steel prices in Turkey decreased during the week to Friday June 4 amid slightly weaker demand compared with previous weeks due to low-priced imports.
The country's currency is also losing value,resulting in cautiousness in the market, sources told Fastmarkets.
The Turkish lira was trading at 8.67 lira to $1 onFriday, compared with 8.27 lira to $1 on May 1, and 7.42 lira to $1 on January1.
Even though flat steel trade is done in UnitedStates dollars, some buyers were cautious to book for October productionbecause the price to be paid cannot be foreseen in lira.
Turkish hot-rolled coil producers are fully bookeduntil late October, however, and are unlikely to make significant price cuts,sources said.
In addition, India sold about 80,000-100,000tonnes of HRC to Turkey this week. India is not a regular exporter of HRC toTurkey, but some...