The downturn in Turkey’s cold rolled coil (CRC) prices has continued despite some positive mood seen in the feedstock segment, as demand from the end-user side remains low.
As a result, domestic CRC market prices for November-December production have declined by $5-10/mt over the past week to $500-510/mt ex-works base. Some small sales have been closed this week at the lower end of this range. The same levels are reportedly available for exports as well; however, some sellers continue to insist on up to $520/mt FOB. “There are no takers at these levels today,” a re-roller told SteelOrbis.
In the import segment, CIS-based mills are gradually announcing new offers for December production. In particular, buyers have received $470-475/mt CFR from Russia’s MMK, up by $15/mt from the most recent sales. Other CIS-based suppliers are expected to return to the market shortly with a similar price rise.