Turkish coated steel prices up another $40-50/mt, new increases possible

In the local Turkish coated steel market, prices have increased by $40-50/mt since Tuesday this week and further increases are possible. Prices are now standing at $970-1000/mt ex-works for HDG and at $1,070-1,100/mt ex-works for PPGI products. Producers are closing their sales from time to time and continue to increase their prices. Demand is high in the market and stocks are low. Also, scrap prices have increased by six percent since the beginning of this week. "We have good demand, higher scrap prices and limited availability for March production. Also, export demand has remained high. In this situation, we are updating our prices not daily but hourly. That is why many producers offer limited tonnages daily and then close their sales to observe the market better,” a steel producer commented.