India's announcement at the weekend that it will impose a 15 percent tax on steel exports to prevent the increase in prices in the domestic market has turned the attention to the steel industry. TEB Investment Research Director Erdem Kaylı, who participated in the Bloomberg HT broadcast, made evaluations on the subject.
"Does this step of India change the balance of the European market too much?" Reminding the question that sharp decreases were seen after the holiday, Kaylı said, "Demand decreased because China was closed. In this period when the demand cooled down, Russian products turned to Asia with the Russia-Ukraine war." he said.
Noting that India is trying to bring costs to a constructive point in this environment, Kaylı said, "Although India is the second largest steel producer, it is exposed to quotas in the export market and could not show any significant activity because it is far from logistics. "Our exports are 20 million tons. Even though we are behind India in terms of capacity, we are in a better position than them in the export markets." used the phrases.
"We're talking $900"
Stating that there is still a serious decline in steel prices, Kaylı said, "We are talking about $900 in steel, which goes from one thousand dollars to thousand 350 dollars, at the moment. We think that this step will stabilize the prices. It is not a huge upward movement, but a little balancing."
Kaylı added that for Turkey, whether China will tend to export and whether Russian products will be available in the Asian market are more important parameters for Turkey.
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