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Turkish flat steel spot market softens amid increased political tension

Tuesday, 11 June 2013 16:41:40 (GMT+3) | Istanbul

Against the backdrop of the increased political tension in Turkey, the fluctuating exchange rate of the Turkish lira against the US dollar has had a negative impact on the Turkish flat steel spot market. In addition to low demand, the uncertainty in the exchange rate has resulted in a price drop of $10/mt in the spot market. The sharp movements in the exchange rate on a daily basis have hindered traders from concluding deals, and so, having followed a stable trend for a couple of weeks thanks to low availability, domestic flat steel spot prices have now entered a declining trend.

The domestic sales prices of traders for local and imported hot and cold rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:

Product	Price ($/mt)
Product	Eregli	Gebze
2-12 mm HRC	590-600	590-600
1.5 mm HRS	625-640	635-650
3-12 mm HR P&O	670-680	670-680
0.6 mm CRC	765-775	770-775
0.7-2 mm CRC	740-750	745-755

The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.

Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.

Tags: Hrc Crc Flats Turkey Europe Steelmaking