Turkey’s domestic prices for cold rolled coils (CRC) and coated steel have remained relatively stable over the past week, despite another increase in hot rolled coil (HRC) offers. End-user demand still lags behind, putting re-rollers under pressure. As a result, market players expect there will be a certain limit to how high HRC prices may be accepted in the coming round of sales.
In the cold rolled coil (CRC) domestic market in Turkey, offers are at $580-600/mt ex-works, the same as a week ago. Some producers assess the workable levels as $555-565/mt ex-works. The product is mainly offered for October deliveries. Import offers from Russia are standing at $560-565/mt CFR for September production, while some deals have been closed within this range. South Korea is out of the market, but the indications are as high as $620/mt CFR.
Local HDG offers in Turkey have remained at $660-670/mt ex-works. But, according to re-rollers, the workable levels are hardly above $650/mt ex-works.