Local steel plate prices
in Aliaga have dropped by about 6% during the past couple of weeks, which has
resulted in some of the major steel mills and scrap buyers to stop any buying
activities over the last week.
Rumor has it, a further
drop in steel prices is expected in the coming weeks, something that has
consequently left many end buyers concerned about their positions on available
tonnage, as they are no longer able to maintain their speculative prices, which
were witnessed earlier this month.
Despite the local demand
persisting, some of the key fundamentals affecting prices i.e the steel prices
and the currency exchange, have not been favoring the Turkish buyers for the
past few weeks.
With the Turkish Lira
having depreciated further this week and local steel plate prices collapsing,
levels on offer are now approximately USD 5 per MT lower with some expectations
they will drop another USD 5 per tonne in the next week.
Source:
steel guru. 23 September 2014
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