Steel coil prices in Turkey increased again this week because of the high cost of scrap alongside other global price increases, with local demand strong because of restocking, sources told Fastmarkets on Friday February 8.
Stocks of hot-rolled coil (HRC) were low in the country because buying has been weak for a long time, with prices falling. But now that prices are increasing rapidly, buyers are placing orders.Local mills have almost filled their order books for April, and May allocations may be offered at higher prices, market participants believed.Fastmarkets' daily index for Northern Europe-origin HMS 1&2 (80:20) scrap - a raw material for flat steel production - was calculated at $319.28 per tonne cfr on February 7, rising from $271.15 per tonne cfr on January 4 because...