Most Turkish flat steel prices decreased toward the end of September 2020 and market sources expected further price reductions to come amid price falls for raw materials, Fastmarkets heard on Monday October 5.
Turkish flat steel producers were fully booked through September, with trading sources reporting that the market was moderate for most of the month because of strong demand in Asia at the beginning of the period.
But Asian demand decreased toward the end of September and prices went down in line with raw material prices.
Fastmarkets' daily index for
steel scrap, HMS 1&2 (80:20), North Europe origin, cfr Turkey, was $283.19 per tonne on October 5, compared with $284.35 per tonne on September 1.
And the daily index for
iron ore 62% Fe fines, cfr Qingdao, was $123.47 per tonne on October 5, compared with $124.66 per tonne on September 1.
Crude steel output
Turkey produced 22.70 million tonnes of crude steel in January-August 2020, up by 0.6% year-on-year, according to the Turkish Steel Producers' Association (TCUD).
Turkey's crude steel output hit...