Sentiment in Turkey's flat steel market remained negative in the week ended Friday October 26, with prices going down, sources told Fastmarkets.
Market participants did not expect local demand to improve until at least the end of 2018, because of the unwillingness to restock before the year-end. But they were uncertain about further price falls because of high costs for scrap and other raw materials.Fastmarkets' daily index for Northern European HMS 1&2 (80:20) was $322.80 per tonne cfr Turkey on October 25, while the daily index for similar material from the US was $331.04 per tonne cfr. Both these prices have been rising since August.Turkish producers were offering flat steel for production in late...