Turkey is a major steel import and export country in the world. Sinosteel believes that it will take time to observe the impact of the earthquake on the overall steel market.

(Photo by reporter Lin Jinghua)

[Reporter Lin Jinghua/Report from Taipei] On the 6th, a strong earthquake with a magnitude of 7.8 on the Richter scale occurred in Turkey. The natural gas pipeline was damaged, and the production plans of many Turkish steel mills were disrupted.

Sinosteel (2002) analyzed that the impact of the strong earthquake in Turkey on the global steel market still needs to be observed, including that Turkish steel is mostly sold to neighboring European countries, which may lead to price increases due to shortages. From China, and the depreciation of the Turkish lira will be unfavorable for imports, and steel products may be resold at low prices to other Asian countries.

Turkey is a major importer and exporter of steel in the world, and its steel output ranks eighth in the world. The earthquake in Turkey damaged natural gas pipes and hindered production in steel mills. The current price has not fluctuated significantly, but market estimates suggest that steel prices may be supported in the future.

Please read on...

Sinosteel also analyzed that Turkish steel is mainly sold to Europe, and the small quantity will drive up the price.

However, Turkey is also a big importer of steel scrap. The damage to ports and other facilities and the depreciation of the lira are not conducive to imports. The scrap steel originally exported to Turkey from China may be resold to other regions, and the price of scrap steel may drop. The impact of the earthquake on the future steel market needs further investigation. observe.

In addition, Sinosteel also observes the recent changes in steel prices in Europe, the United States, and Asia. Judging from the circulation price of bulk steel hot rolling, the quotation in the United States has exceeded US$900 per ton, that in Europe is about US$800, and in Asia is around US$700. The overall price up.

Sinosteel mentioned that the current production line continues to adjust to demand and price changes. After the Spring Festival, it will continue to pay attention to the strength of China's economic recovery. The stabilization of consumption activities can drive demand. Sinosteel's planned production in the first quarter is about 2.5 million tons.

Grasp the pulse of the economy with one hand I subscribe to Free Finance Youtube channel

Already added friends, thank you

Welcome to 【Free Finance】

feel good

Already liked it, thank you.

related news