CRC prices in Turkey go down in all segments

Thursday, 10 October 2019 16:48:28 (GMT+3)   |   Istanbul

Turkey’s cold rolled coil (CRC) export offer range has narrowed down over the past week to $520-530/mt FOB from $520-540/mt FOB, taking into account low demand, specifically in Europe. In addition, this week South Korea has been selling CRC to the EU at $510/mt CFR, leaving no room for the Turkish trade.

In the domestic market of Turkey, CRC is on offer at $525-535/mt ex-works, down $5-10/mt down over the past week. Only small lots are being booked at the lower end of the range, while mostly buyers hesitate to place firm bids. Moreover, some players have expected the levels to move down to $515-520/mt ex-works. Demand locally remains limited due to the low activity of the consuming industries, re-rollers report.

The same factor limits the import activities in the segment. According to the sources, the CIS-based mills have trouble selling to Turkey, with bids coming at low levels of around $465-470/mt CFR. The level seems to be acceptable a Ukrainian seller, while Russia’s MMK has been aiming to sell at $475-480/mt CFR, SteelOrbis has learned. As a result, import CRC prices in Turkey have moved down by $10-15/mt over the past one week.


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