Since the outbreak of the Russian-Ukrainian conflict, the price of Turkish flat products has been climbing, reaching a peak in early April, and then continued to decline. The export price of hot-rolled coils fell from $1,300/ton FOB on April 7 to $700/ton on July 7 FOB, down 46%, to its lowest point since December 2020.
Turkish scrap import prices rebounded after three consecutive months of declines as demand for finished steel improved. On July 7, Turkey’s scrap import transaction price rose to $410/ton CFR, up $50/ton week-on-week.
Market activity will slow due to the Eid al-Adha holiday in Turkey from July 9 to July 17. Sources told Mysteel that although the market demand is limited and cannot provide strong support, due to higher energy and raw material costs, Turkish flat panel producers are trying to follow the increase, and flat panel prices may rebound after the festival.
Post time: Jul-08-2022