Re-rollers in Turkey have continued to keep their cold rolled coil (CRC) offers at high levels, though demand remains low and the new level has not been accepted by the buyers. As a result, it is possible to obtain significant discounts from some sellers.
Official domestic CRC offers in Turkey are currently at $520-540/mt ex-works from key producers, up around $5-10/mt over the past week. The product is available mainly for May deliveries. According to sources, bids are rare and are mostly coming at $500/mt ex-works and below. Some mills have reportedly been selling medium lots at $490-500/mt ex-works over the past two weeks. “The biggest problem is that demand is making it very hard to sell at higher levels,” a producer told SteelOrbis.
As regards exports, Turkish mills have been even more flexible, with prices reported at $490-510/mt FOB for May shipments. According to sources, a couple of producers have been selling sizable lots to Antwerp and southern EU, where CRC has been priced at the lower end of the mentioned range. “They have collected almost all orders in the market, which means other Turkish re-rollers are left empty-handed for now,” a trader said.
