The price trend in the cold rolled coil (CRC) market in Turkey continues to be driven by the severely limited availability from local mills and the scarce number of offers on the import side. In the meantime, buyers are still very much interested in purchases, taking into account their low stocks and the seasonal revival of end-user demand.
These factors have resulted in another sizable increase over the past week in mills’ offers for deliveries in July and later. Currently, the majority of the re-rollers are in the market with $1,150-1,180/mt ex-works, up by $30-60/mt over the past week.
In the import segment, the number of offers from the CIS has been limited due to restricted allocation. Ukraine is said to be absent from the market for now and it may start offering later. In the meantime, the indication from one regular ex-Russia seller is at $1,050-1,100/mt CFR. According to sources, MMK, which has not been exporting CRC for a long time, is considering coming back to the market now since it is expected to restart its mill at the end of May or in early June. “I would say this is perfect timing for them to come back,” a trading source told SteelOrbis.