TURKISH STEEL MARKET ROUNDUP FROM
MEPS INTERNATIONAL LTD
Hot rolled coil selling
figures have decreased in Turkey, according to MEPS. Both domestic and overseas
demand is lacklustre.
Confidence, in the commodity plate market, has weakened. Cautious stockists are
expected to pursue conservative procurement programmes in the short term
Wire rod transaction values have been cut. Turkish buyers still preferred to
delay bookings, in anticipation of further price concessions from domestic
suppliers. Meanwhile, underlying demand for structural sections has stalled.
Rebar selling figures have continued to decline since late June, shadowing the
fall in the cost of key steel making raw materials – particularly, ferrous scrap
and imported billet. End-users have begun to press for lower prices, in view of
the downward movement being witnessed in other global steel markets.
Negative price expectations have gained momentum for merchant bar. Local
end-users have deferred bookings, in anticipation that no price trend reversal
will happen in the near term.
Source: MEPS -
Steel Review - July Edition
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