Most Turkish flat steel prices increased in August 2020 and market sources expect further price increases to come amid global price rises, Fastmarkets heard on Thursday September 3.
Turkish flat steel producers are fully booked until late-October, with trading sources reporting that the market was moderate for most of August because of the seasonal summer slowdown in Turkey and its neighboring countries.
Crude steel output
Turkey produced 19.4 million tonnes of crude steel in January-July 2020, down by 2.4% year on year, according to the Turkish Steel Producers' Association (TCUD).
Turkey's crude steel output hit 3.1 million tonnes in July 2020, a 7.5% annual increase, TCUD data shows, with the association noting that the increase in output was not enough to compensate for the production decreases in April and May 2020 amid the peak of the Covid-19 pandemic.
Domestic prices
HRC, CRCTurkish hot-rolled and cold-rolled flat steel prices increased in August due to high prices in global markets, sources said.
Fastmarkets' steel hot-rolled coil index export, fob main port China was $513.50 per...