Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

Change font size:   

April 2008 | Steel Raw Materials


Turkish buyers retreat in early April: European Highlights


It appears that rising prices for scrap in Turkey may have dampened mills' enthusiasm for buying at the beginning of April despite the fact that market fundamentals suggest that demand would have been strong – as Turkish EAF steel production grew in both January and February (see chart) and demand for finished steel products remained firm in the Middle East.

It appears that rising prices for scrap in Turkey may have dampened mills’ enthusiasm for buying at the beginning of April despite the fact that market fundamentals suggest that demand would have been strong – as Turkish EAF steel production grew in both January and February (see chart) and demand for finished steel products remained firm in the Middle East. In the first week of April, Turkish import prices were trading in the range of $560-570/tonne cfr for April shipments of US-origin HMS Nos.1&2 (80:20) although MBR understands that few transactions took place at that price level. ...but return to buying later... Nevertheless, it appears that this was a temporary lull and buyers have accepted that the strong upward price trend is to continue, and we have seen both tonnage...

ACCESS RESTRICTED

You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.


SUBSCRIBE


Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.

Subscribe


Already subscribed?