Turkey flat steel prices rise, market direction uncertain

Most flat steel prices continued to increase in Turkey during the week ending Monday November 1, but future price moves remain uncertain because of decreasing prices in China and weak demand in the Turkish local market, sources told Fastmarkets.

Hot-rolled coil prices in China have been decreasing, which may affect global prices.
Local demand for flat steel was also weak because most buyers placed their orders in previous weeks and now prefer to hold back from trading.
The afternoon of October 28 and the day of October 29 were Republic Day holidays in Turkey, limiting market activity during the week.
Domestic prices

Fastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $900-950 per tonne on November 1,...

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