Domestic CRC prices at standstill in Turkey, imports weak

Friday, 17 January 2020 14:47:47 (GMT+3)   |   Istanbul
       

Domestic cold rolled coil (CRC) prices in Turkey have remained relatively stable over the past week, though suppliers’ positions still differ. Those needing to sell and having some excessive stocks are in the market with $560-565/mt ex-works. It is worth mentioning that the aggressive offers at $540-550/mt ex-works seen last week are not available these days. In the meantime, some mills are quoting at $575-590/mt ex-works and above, SteelOrbis has learned. Sentiment has weakened by the end of this week due to the sizeable drop in import scrap prices. As a result, Turkey’s CRC and coated steel markets are waiting to see the trend in the feedstock segment, and so business activity has been limited.

In the import segment, the number of CRC offers is scarce. Russia’s MMK is out of the market amid maintenance works and NLMK is taking its time to offer, saying that its allocation for the coming sales round may be limited. Ukraine’s Metinvest has also not disclosed its CRC prices for Turkey yet, while its previous deals were closed mainly at $540-545/mt CFR, as reported earlier. Meanwhile, South Korea is offering $590/mt CFR base for March shipments, which is not considered workable by Turkish buyers.


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