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Steel & Metal
- Turkey -

Turkish Hot Rolled Coil Market Grapples with Weak Demand Amidst High Interest Rates

The Turkish market continues to suffer from weak demand amid the country's high interest rate significantly affecting business activity, market participants inform Kallanish. Hot rolled coil from domestic mills was available for end-June/early-July delivery. Steel consumption by domestic downstream industries, including automotive and machinery, is reported to be relatively stable on-year. Due to the high cost of money in the country, buyers are being forced to limit their purchases and inventories, leading to subdued demand for hot rolled coil. The weak demand has put pressure on domestic mills, who are struggling to find buyers for their products.

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