TURKEY FLAT STEEL: Prices keep falling, buying weak

Hot-rolled coil and cold-rolled coil prices continued to decrease during the week to Friday January 29 in Turkey, while buying in the domestic market was weak because of uncertainty on price changes, sources told Fastmarkets.

Some market participants believe prices have more room to decrease because of weakening prices globally and so did not want to order flat steel for April production and May delivery, Fastmarkets heard.
Other market participants, however, think prices will stop falling after the Chinese New Year holiday (February 11-17).
One of the main reasons behind the price decreases was falling scrap prices, sources said.
Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was $407.95 per tonne on January 28, falling from $432.61 per tonne on January 22.

There were also several import deals...

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