Flat steel prices continued to increase in Turkey during the week to Friday May 21, with mills accepting orders for October production, sources told Fastmarkets.
Demand was strong in local and export markets and market participants expect further price increases because mills are already booked for over five months.
In addition, prices are expected to strengthen amid speculation that
China could impose export tariffs on certain steel products.
More than 50% of global steel production is controlled by China and a drop in exports from the country will result in higher prices, sources said.
China
removed export rebates on several steel products and
removed import duties on steelmaking raw materials earlier in May.
Working days have been reduced in Turkey over the...