TURKEY FLAT STEEL WRAP: Prices decrease in July; trading limited due to holidays

Turkish prices for flat steel products decreased during July and trading was limited due to holidays during the month, sources told Fastmarkets on Tuesday August 3.

Global weakness in flat steel markets during the holidays - Democracy Day was on July 15 in Turkey, and the Ei al-Adha holidays took place from July 19-24 - sparked the decline in prices.
Turkish hot-rolled coil producers are currently accepting orders for October production.
But prices could increase soon following China's decision to cancel additional steel export rebates, sources said.
Fastmarkets' steel hot-rolled coil index export, fob main port China was calculated at $923.95 per tonne on August 3, up by 9.23% from $845.90 per tonne on July 1.

Sources said Turkish flat steel imports could also decrease after Russia's decision on June 26 to impose temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU). These are set to take effect from August 1-December 31
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