Turkish re-rolling companies have been enjoying rather high demand for cold rolled coils (CRC) and coated steel recently, which has allowed them to mostly sell out their January production. In addition, scrap prices remain firm and hot rolled coil (HRC) prices in Turkey have kept on rising, which has resulted in the further price increase in the CRC segment too.
Currently, most companies are offering $670/mt ex-works for CRC, versus $640-660/mt ex-works reported last week. Some rare suppliers are considered to still be willing to deal at $660/mt ex-works, while some mills have started to voice $680/mt ex-works. It is worth mentioning that, according to sources, two large producers have not been offering as one is reportedly having some problems with HRC deliveries, while another one is said to be sold out for most of its February allocation. In the meantime, only some re-rollers still have January production in hand and so their sales may be more advantageous in terms of prices since demand has been high while allocation has been limited, SteelOrbis understands.