Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
On March 11th, in an effort to improve working conditions, about 7000 freight workers represented by major A1011 Grade 60(410) steel trade unions launched a planned two-week strike across Finland, covering areas such as freight, A1011 Grade 60(410) steel transportation control, seaports, and railway transportation, which may have adverse effects on the European steel market in the future.
The strike is expected to directly affect logistics facilities and infrastructure, not only causing local troubles in Finland, but also potentially affecting the entire Europe. Two major European steel producers, Outokumpu and SSAB, have issued warnings that strikes may have a negative impact on their businesses. During the strike, all export ports in Finland will be closed for about two weeks, and SSAB estimates that the strike may result in a decrease of approximately 300 million kroner in business in Europe A1011 Grade 60(410) steel in the first quarter.
Title: Difficult Financing Road for Türkiye Steel Traders
Keywords: ASTM A1011, A1011 Grade 65(450) steel, A1011 Grade 65(450) hot rolled picked steel,A1011 Grade 65(450) steel price, A1011 Grade 65(450) steel supplier, A1011 Grade 65(450) steel manufacturer, A1011 Grade 65(450) steel wholesaler, A1011 Grade 65(450) steel retailer, A1011 Grade 65(450) steel quotation, A1011 Grade 65(450) steel specification
Istanbul Ferrous and Nonferrous Metals Exporters Association (IDDMIB) said that financing difficulties and low exchange rate policies have been inhibiting the competitiveness of Türkiye's producers in the global market. Since Türkiye has implemented monetary tightening policy for a long time and the interest rate remains high, steel exporters have been facing difficulties in obtaining bank credit.
Under adverse market conditions, the export volume of ferrous and nonferrous metal industries of Türkiye's steel mills in January and February fell 5% year on year to US $1.96 billion. The specific export volume has not yet been known. The interruption of shipping in the Red Sea region also limits the export volume of A1011 Grade 65(450) steel long products of Türkiye's steel mills in the first two months of 2024.
If Türkiye wants to remain competitive in the export market, it also needs to introduce a favorable exchange rate policy. However, under the ongoing tight monetary policy and credit issues, the expected recovery in domestic steel market demand has not yet emerged. Some market participants predict that after the municipal elections on March 31st, the government may further tighten monetary policy, and the economic A1011 Grade 65(450) steel situation in the second quarter of this year may not meet expectations.
At the same time, the exporter association hopes that economic uncertainty in the second half of the year will decrease and inflationary pressures will ease, which will to some extent support trade activities, and emphasizes that geopolitical instability in Russia, Ukraine, Israel, Hamas, and other countries has been creating uncertainty for the world economy. The slowdown in demand also continues to put pricing pressure on Türkiye's steelmakers in the first quarter of this year. Exporters expect demand to recover in the first half of this year A1011 Grade 65(450) steel.
