The recent sharp price increase in the local hot rolled coil (HRC) segment has naturally triggered the same trend in offers for cold rolled coils (CRC) in Turkey. In addition, supply is not available in the market for shorter lead times and most re-rollers have been offering for February-March deliveries.
Since earlier this week, local CRC prices in Turkey have jumped up to $720-730/mt ex-works, from $660-680/mt ex-works. The largest mills, however, prefer not to quote today and most will probably open fresh sales next week. The mentioned price increase is considered by some market players as being far too steep, taking into account that the size of the price rise for HRC had been less. “HRC prices are up, but those levels are not accepted. Today, everyone is trying to take advantage of the uptrend, but the reality [workable levels] should be lower,” a trading source told SteelOrbis.