Re-rollers in Turkey have remained bullish and have once again raised their local prices for cold rolled coils (CRC). As a result, the price difference with hot rolled coils (HRC) offers has increased further and become unprecedented.
Over the past week, local CRC prices in Turkey have increased by $40-50/mt and most offers are concentrated within $950-980/mt ex-works. However, some re-rollers are said to be ready to sell some ex-stock material at $920-930/mt ex-works. In the meantime, one of the largest CRC producers in the country has been offering $990/mt ex-works by the end of the week, SteelOrbis has learned.
While HRC offers in Turkey have been at $750-765/mt ex-works throughout most of the week, the price difference with CRC has hit $200-215/mt. However, there is an expectation that some mills may target up to $800/mt ex-works for HRC following the significant rise in scrap prices in deals.
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