Steel coil prices in Turkey increased again this week because of the rising cost of raw materials, alongside other global price increases.
Local demand was also weaker than it was seven days earlier, sources told Fastmarkets on Friday February 15.Buyers placed orders last week because they had low stock levels, market participants said. However, they added that end-user demand was still not strong in the country, so buyers are preferring to wait and see if the price increases gain acceptance.Fastmarkets' daily index for Northern Europe-origin HMS 1&2 (80:20) scrap - a key raw material for flat steel production - was $324.3 per tonne cfr on February 14, rising from $271.15 per tonne cfr on January 4.The latest...