Turkish prices for various flat steel products moved both upward and downward during June, with the future for the prices seeming to be unsure because of the broader global market uncertainty, sources told Fastmarkets on Thursday July 1.
The
main reasons for this were that the traditionally slow summer season has started in most countries, China has not yet announced the rate for its planned export tax, and most mills were fully booked until late October.
Fastmarkets'
steel hot-rolled coil index, export, fob main port China, was calculated at $845.90 per tonne on July 1, compared with $913.16 per tonne on June 1.
And on June 26,
Russia announced temporary export duties on a total of 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), which will be in effect from August 1 to December 31.
News of the plan to impose this duty resulted in
several prompt shipping deals from Russia to various destinations, including Turkey.
Demand was strong in Turkey's local markets toward the end of June, and
HRC producers were accepting orders for late-October production.
Crude steel output
Turkey...