TURKEY FLAT STEEL WRAP: HRC, CRC prices down in October, demand moderate

Most prices in Turkey for hot-rolled coil and cold-rolled coil went down in October 2020, with some market sources expecting further price decreases, Fastmarkets heard on Wednesday November 4.

Turkish flat steel producers were fully booked until January, with trading sources reporting that the market was moderate in October because of the uncertainty about prices after China's Golden Week national holiday on October 1-7.
Current demand in China was strong, however, because of low inventory levels, with prices increasing again after falling in the week of October 16-20.
Fastmarkets' daily steel hot-rolled coil index, export, fob main port China, was $522.25 per tonne on November 4, compared with $509.77 on October 9.
Crude steel output
Turkey produced 25.93 million tonnes of crude steel in January-September 2020, a 2.59% year-on-year increase from 25.28 million tonnes in the corresponding period of 2019, the Turkish Steel Producers' Association (T???oeD) said on November 2.

This production figure ranked Turkey as the seventh-biggest steel producer in the world so far this year, surpassing Germany, which held the position...

Silver inventories rebound in UK, output from major producers rises

Silver's three-month outperformance continues

Silver & Copper Supply Distortions Continue

Gold stocks down in risk-on shift

Gold stocks rocket on metal rebound and equities jump