Flat steel prices in the Turkish domestic and export markets have decreased during the week ending Friday January 15 because of low prices from China, sources have told Fastmarkets.
Fastmarkets'
steel hot-rolled coil index, export, fob main port China, was $647.79 per tonne on January 15, falling from $657.11 per tonne on January 8.
The reason for the decrease was that most Chinese exporters had high stock levels, and wanted to agree contracts before the start of the Spring Festival to run February 12-22, Turkish sources said.
Domestic prices
Producers decreased their offer prices for both hot-rolled coil and cold-rolled coil during the week, and deals were heard at these lower prices.
Fastmarkets' weekly price assessment for
steel HRC, domestic, exw Turkey, was $805-810 per tonne on January 15, falling from $810-820 per tonne on January 8.
Turkish HRC producers were offering at $810-820 per tonne ex-works for April production during the week,...