Cold rolled coil (CRC) prices in Turkey have continued to trend upwards, marking another sharp increase in domestic offers since the end of last week. Tight availability remains the key reason for such a situation, though stronger hot rolled coil (HRC) and scrap prices have provided support as well.
As of today, March 9, local CRC prices in Turkey are ranging within $1,090-1,150/mt ex-works depending on the mill and lead time, up by $40-70/mt. Sources report that most re-rollers have limited capacity for June production and most offers are for July already. “Therefore, the prices increase because it is impossible to find the material with a closer delivery term. The price of $1,100/mt ex-works is workable for now,” a source told SteelOrbis.
In the meantime, the CIS-based mills are out of the market since they do not have any CRC in hand to sell, which provides additional support for the Turkish pricing.
