Local prices for cold rolled coils (CRC) in Turkey have increased for the second time this week, driven mainly by the severely restricted allocation. Some re-rollers say they are already almost sold out for June production and have started offering for the third quarter. “It is literally impossible to find any CRC now for early June: forget ordering for May,” a trader told SteelOrbis. As a result, domestic CRC prices in Turkey have increased by $30/mt since earlier this week and are currently standing at $1,050-1,080/mt ex-works.
In the import segment, hardly any offer has been reported from the CIS since NLMK and Metinvest seem to have sold out their volumes prior to the rapid price uptrend and MMK has been out of the CRC market for many months. Offers from South Korea are at $1,000/mt CFR Turkey for May shipments, SteelOrbis has learned.
