Turkish cold rolled coil (CRC) producers have increased their domestic offers quite significantly, supported by the sharp uptrend in hot rolled feedstock prices. Import price levels for February shipment have naturally followed the same direction.
Early this week, CRC prices in Turkey were ranging within $540-560/mt ex-works, with some small and medium-sized lots sold at this level. However, as the hot rolled coil price increase has been gaining pace, Turkish re-rollers have followed the same trend. As a result, coming towards the end of the week most offers for CRC are reported at $580-600/mt ex-works, with some negotiations happening at the lower end of the range. As a result, local CRC prices in Turkey have increased by $50-60/mt over the past two weeks. In the meantime, domestic hot dip galvanized prices have increased by $50/mt over the past week to $670-690/mt ex-works base.
In the import segment, Ukraine’s Metinvest targets $490-500/mt CFR for February shipments, up $20-30/mt over the past two weeks. Russia’s NLMK is aiming to increase its prices by around $35/mt to $520/mt CFR for February production, SteelOrbis has learned. MMK is currently out of the market with no CRC available. Offers from South Korea remain among the highest in the market, at $550-560/mt CFR for base grade, sources report.