Turkish HRC market may turn to be stable
2013-03-05 08:57:43 [Print]
BEIJING (Asian Metal) 5 Mar 13 - Current price for HRC SJ275R 3.0mm*1,250mm*C in Turkey is USD670-685/t (VAT included), increasing by USD20-30/t compared with that of early last month. Traders deem that the price will keep stable in the near future because a higher one is harder for customers to accept.
An HRC trader from Istanbul reports to Asian Metal that the price for SJ275R 3.0*mm1,250mm*C is USD685/t (VAT included).
According to official data from Turkish Exporters Assembly (TEA), the export value for steel products was USD1.16billion in January, with a year-on-year decline of 4.9%. Furthermore, the GDP growth rate in 2012 was estimated to be 2.5%, which failed to fulfill the expectation of 3.2%. Therefore, the source doesn’t think the price will keep increasing in the future.
Another HRC trader from Istanbul reveals that the price for SJ275R 3.0mm*1,250mm*C is about USD680/t (VAT included).
Data from HSBC shows that the PMI for Turkish manufacturing industry grew slower last month, which declined from 54 in January to 53.5 in February. However, the new order index kept increasing. Accordingly, the source holds a cautious attitude towards the following market. He deems that the price is unlikely to keep a strong upward trend.
An HRC trader from Istanbul reports to Asian Metal that the price for SJ275R 3.0*mm1,250mm*C is USD685/t (VAT included).
According to official data from Turkish Exporters Assembly (TEA), the export value for steel products was USD1.16billion in January, with a year-on-year decline of 4.9%. Furthermore, the GDP growth rate in 2012 was estimated to be 2.5%, which failed to fulfill the expectation of 3.2%. Therefore, the source doesn’t think the price will keep increasing in the future.
Another HRC trader from Istanbul reveals that the price for SJ275R 3.0mm*1,250mm*C is about USD680/t (VAT included).
Data from HSBC shows that the PMI for Turkish manufacturing industry grew slower last month, which declined from 54 in January to 53.5 in February. However, the new order index kept increasing. Accordingly, the source holds a cautious attitude towards the following market. He deems that the price is unlikely to keep a strong upward trend.
