Domestic cold rolled coil (CRC) prices have decreased in Turkey over the past week under pressure from negative sentiment amid falling scrap prices and uncertainties regarding the situation in China. Most mills are offering for March deliveries, though some can still provide February lots.
Local prices have decreased by $10-15/mt to $555-575/mt ex-works depending on the supplier and month of delivery. Most sources believe that levels above $560/mt ex-works are not workable and, moreover, they expect new price decreases following weaker scrap prices. “Today, everyone is afraid to make a move as tomorrow prices may again be much lower. The market is uncertain,” a producer told SteelOrbis.
In the import segment, Russia’s NLMK has been selling CRC at $555-565/mt CFR depending on the customer. No firm offers have been heard from Ukraine’s Metinvest, but the sources estimate the supplier’s price at around $540-545/mt CFR, SteelOrbis has heard.
