European steel producers are trying to resist downward pressure. Steel consumers have frozen their purchases due to price uncertainties. Turkish steel producers had increased scrap purchases and steel production in anticipation of post-earthquake reconstruction. However, when the expectation was postponed due to the elections, scrap buying activity decreased and put downward pressure on European scrap prices. Scrap prices are expected to recover in the coming days and this recovery is expected to support Hrc prices.
Ex-mill Hrc prices in Turkey vary between $680-700, while spot market prices are trading between $780-800.
Turkey sheet prices according to spot market average;
Hot Rolled Coil (Hrc) prices $800
Cold Rolled Coil (CRC) prices 910$
Galvanized sheet prices 950$
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