After the Kahramanmaraş-based earthquakes that took place on February 6, the iron and steel factories accelerated their production programs for the 4 million tons of iron needed due to the renovation works to be carried out in the region.
Iron and steel factories in the region where the earthquake occurred had given priority to rescue and relief activities after the earthquakes and had stopped production and shipments. The producers and employees of the region, who are trying to recover, started to turn the wheels of the factories.
Turkish steel mills have increased the demand for raw materials and semi-finished products in order to meet the expected steel demand and create sufficient stock. With this increase, scrap and log prices started to rise.
The latest 80:20 scrap connection between Europe and the Baltics was realized at the level of 430$/ton cfr Turkey, while offers for billet purchases originating from Russia increased above the level of 620$.
While the new offers from US traders are expected to be at the level of $440 /ton, Turkey's local billet and finished product prices are also continuing to rise.
On the Turkish local market, it was heard that a factory located in Iskenderun sold 15,000 tons of billets at $680. Finished product prices in the region have risen to the level of $760.
Kardemir Karabük Iron and Steel, on the other hand, closed the price of rebar in the morning at the price it opened for sale at $730 shortly after.
The information that the maximum tonnage that can be given per company to meet all demands can be 1000 tons has been informed to the merchants by Kardemir.
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