Turkish mills have again not managed to avoid price decreases in the cold rolled coil (CRC) segment as demand remains limited.
Domestic offers for November production CRC in Turkey have decreased by $10/mt over the past week to $510-515/mt ex-works. Some buyers believe that pricing will soon drop to $500/mt ex-works as local consumption is not in great shape. However, higher offers also exist in the market at $520-530/mt ex-works, though for December production.
Turkish CRC export offers are also under pressure and have dropped by $5-10/mt over the past week to $510-515/mt FOB. However, according to the sources, some deals for November shipments have been closed at $495-500/mt FOB. “Having the product with a short lead time is not an advantage these days. But currently most offers are for December shipment,” a trader told SteelOrbis.
Import offers to Turkey from Ukraine have remained within $440-450/mt CFR for December shipments with small volumes booked within this range. Russia;s MMK has been heard in the market at $455-460/mt CFR (down $5-10/mt over the week), though with no fresh deals reported.