Turkish mills are going to purchase scrap in order to meet the market demand after finishing dormant summer holiday period in Europe. They believe the price of small-medium sized section steel products will stop dropping since early September.
Turkish section steel price has been slumping for few weeks in a row. The ex-work price of section steel was at TRL 1,290 to TRL 1,460 per tonne in the beginning of last week. However, the price in last weekend has been fallen to TRL 1,170 to TRL 1,460 per tonne.
Besides, the export price of small-medium sized section steel products has been reduced by USD 70/ per tonne on average last week from two weeks ago. According to Turkish mills, the export price of angle bar for August and September shipment was at about USD 1,150 per tonne FOB based on actual weight.
