Turkey-based re-rollers have increased their cold rolled (CRC) prices over the past week, mainly supported by the uptrend in the hot rolled coil market. End-user demand in the segment has remained insufficient and so most sources believe discounts for CRC are still possible and think that the price increase may be short-lived.
In the domestic market in Turkey, CRC prices have increased by $5-10/mt over the past week to $510-530/mt ex-works, though the upper end is offered by few. Most offers are for July deliveries, while some say the allocation is limited as a result of lower production or some successful sales closed earlier. “I bet for a good order $500/mt ex-works and maybe below still exists,” a trader said. “Re-rollers are trying to catch better prices while HRC is up and before it hits the ground again,” another source told SteelOrbis. Turkey’s CRC export offers are reported at $505-515/mt FOB for July shipments.
In the import segment, the number of offers is scarce. One of the Russian mills is in the market with $430-440/mt CFR offers for July production, up by around $15/mt compared to the previous sales. Other CIS-based sellers, according to sources, are taking their time to announce new prices for Turkey.
