Due to Indonesian elections and working day holidays in South East Asia, there is not much demand, and activists predict that purchases will be resumed from late May and early June.
A Turkish billet ship was sold for $ 452 CFR in Saudi Arabia, while the drop in prices for scrap imported into Turkey and the drop in demand for rebar inside the country led to a drop in prices.
Each ton of rebar is priced at $ 440 per barrel inside Turkey, while Turkey’s rebar is negotiable at $ 465-470 per FOB.
Turkish steel makers will not buy 295 $ for delivery in June and $ 300 for delivery in May.
Turkey has about 301 thousand tons of exports from Europe from July 1 to June 30, 2020, and is expected to sell this volume in a short time.
۸ units of the Egyptian handkerchief have been shut down after applying the tariff for imports of bars and fittings because they are not able to compete with steel makers who produce billets themselves.
The price of slabs fell by $ 5 per barrel to $ 455 per barrel in the Black Sea FOB, while falling flat prices affect the margins of steelmakers.
India lowered the price per tonne by a decrease of Rs. 41,000, with federal demand dropping by about 10%, and the severe storm in India’s east coast halted imports and activities.
Turkey lost $ 1bn per tonne to $ 500bn, while 30,000 tons of $ 495bn were sold in early July.
Some declines in European plate production due to lower final product prices and higher commodity prices.
KEYVAN JAFARI TEHRANI
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