The cold rolled coil (CRC) segment in the Turkish flat steel market remains among the most troubled segments in Turkey, following the significant contraction of end-user consumption. And while domestic CRC producers in Turkey have been postponing significant discounts, having dropped prices by $30/mt last week, import offers have fallen as sellers seek orders.
Most domestic CRC offers have been voiced at $530/mt ex-works, the same as last week, though earlier some re-rollers were standing at $540-550/mt ex-works levels. The product is still available for April deliveries since trade has been minimal lately. The key reason is the drastic fall in end-user demand, specifically from the automotive, white goods and construction sectors.
In the import segment, offers from Russia have been coming at $455-460/mt CFR to Turkey, down by around $50-60/mt since mid-March. In the meantime, buyers report that the ex-Ukraine indication for CRC is at around $480/mt CFR. Some aggressive offers have also been heard from South Korea, within the range of $480-500/mt CFR depending on the buyer, while earlier the levels were closer to $520-530/mt CFR.
