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30 Aug

US warning, lira create Turkish HRC price floor

Turkish hot rolled coil prices appear to have bottomed amid sellers' reluctance to discount and buyers' declining options to obtain material. Sentiment is accentuated by rising costs of production and European producers attempting considerable price rises for the new season, Kallanish observes. Despite the recent scrap import price rebound losing momentum, and the Turkish lira reaching new lows, Turkish HRC mills look set to reduce output rather…
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