Domestic cold rolled coil (CRC) prices in Turkey for November production are currently ranging at $530-545/mt ex-works base. Turkish mills’ export offers are somewhat lower, at $520-540/mt FOB. As a result, prices have decreased by at least $30-40/mt over the past month, but have remained stable compared to last week’s levels. Local demand remains extremely low with the average utilization of production lines estimated at up to 60 percent, SteelOrbis has learned. Foreign sales have been challenging in past weeks as Indian products have been traded to the EU at around $530-540/mt CFR, sources say.
In the import segment, Russia’s MMK is offering CRC for November production at $490-495/mt CFR with bids coming at $480/mt CFR, SteelOrbis understands. A Ukrainian producer is voicing $480/mt CFR for production in the same month, while some discounts might be evaluated. “I don’t think today anyone can buy much over $470-475/mt CFR,” a trader said.
