Since the significant rise in domestic cold rolled coil (CRC) prices in Turkey in the first half of September, Turkish producers have been forced to take a step back from the market. Buyers have been exerting a good amount of pressure on re-rollers, taking into account sliding scrap prices and uncertain expectations as regards China’s flat steel pricing.
Domestic CRC offers in Turkey have dropped by $10-20/mt over the past two weeks to $590-600/mt ex-works, SteelOrbis has learned. Some mills are ready to deal at $580/mt ex-works, partly for stock material, sources say. The product is mainly available for the second half of November production. “We cannot say demand is dead, but it is not high. Raw materials are down and also the market is waiting for the Chinese prices [after the holiday],” a producer told SteelOrbis.
