Turkish flat rolled market keeps getting firmer

Shipbuilding industry, which shows a rapid development in Turkey, creates some kind of activity in iron and steel industry. Acceleration in businesses of shipyards following softening in weather conditions, ship orders Turkey received for large amounts in the first four months and other ship orders in the long term caused an increase in shipbuilding plate demand in Turkey. Prices of shipbuilding plates are expected to rise in the coming periods. Tightness in import hot rolled coil availability in the local Turkish market still continues. Local flat rolled prices in Turkish market indicate small increases compared to last week. However, the expectations that the prices would increase in the Turkish market have caused local sellers to become undecided on whether to put their goods to the market. Russian producers are expected to announce their prices this week. Stagnancy in cold rolled materials in the local Turkish market still continues. Prices at higher levels are heard for import materials; however, stagnancy in cold rolled materials still continues since there is no buyer at all. Rising cold rolled steel prices in the Southeast Asia have not yet affected Turkish market. However, since the price gap between hot rolled and cold rolled materials has narrowed, a possible price increase in cold rolled materials in the coming days should be taken into account. On the other hand, price increases in galvanized markets still continue. For galvanized materials in 0.3 mm thickness with 275 gr/sqm coating, price levels at $1,050-1,100/mt CFR US ports are talked in India. Zinc prices, which are at high levels but indicating fluctuations, still keep their uncertainty. Price hikes last week were very irregular, causing an uncertainty in the markets. This situation continues to cause trouble for the producers of galvanized materials in terms of prices.