Local and export cold rolled coil (CRC) prices in Turkey have increased in two steps this week, with sufficient sales being the key supportive factor. Most Turkish re-rollers have already sold out their January production volumes and are not under pressure to intensify trade.
Over the week, local prices for CRC in Turkey have increased by $30-40/mt to $640-650/mt ex-works as per offers from most re-rollers. Some of them, however, are voicing levels at as high as $660-670/mt ex-works, but these are not considered workable just yet. In the meantime, some mills may still consent to deal at $635/mt ex-works. “Demand has been good recently because local buyers have been restocking and some serious volumes have been exported over the past few weeks,” a trader told SteelOrbis.
Another factor supporting the uptrend in the CRC segment in Turkey is the absence of competitive offers from abroad. CIS-based mills are barely present with offers, while Asian indications are at least $20/mt above local prices in Turkey.
