Strong market fundamentals in the hot rolled coil and scrap segments in Turkey have once again supported coated and cold rolled coil (CRC) offers. Moreover, demand has started to recover, most probably due to the fact that buyers believe that prices are not going to roll back anytime soon.
Domestic CRC offers in Turkey have increased by $30-40/mt since early last week to $600-630/mt ex-works from most re-rolling companies. Still, some discounts are possible depending on the order size and the breakdown. “Target prices can be discussed regarding the quantity. There is demand now,” one of the sellers told SteelOrbis.
As regards exports, offers have increased by $30/mt to $600-610/mt FOB for November shipments. Demand for small and medium lots is coming from the European market, supporting the sellers, SteelOrbis understands.
In the meantime, it seems that not all CIS-based CRC suppliers are in the market to sell CRC for export, having almost no allocation for now.