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16 Nov

Turkish longs rise further, fundamentals questioned

Turkish long steel producers have further increased their quotes this week amid costlier production. However, as demand remains sluggish and does not provide confidence, market participants are questioning if fundamentals are solid enough to keep prices firm. On Thursday, Turkish mills’ official rebar offers were at $570-590/tonne fob Turkey actual weight, up from $565-585/t last week. Offers for mesh-quality wire rod are at $580-605/t fob. Demand in the EU…
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