Cold rolled coil (CRC) prices in Turkey have moved up significantly since earlier this month. The key reason is the sharp rebound in hot rolled coil (HRC) offers in the country, coupled with stronger scrap price levels. However, re-rollers report that the situation in the domestic CRC market is not great and that workable levels are still lower than the announced prices.
Domestic CRC offers in Turkey have increased from $500-520/mt ex-works in mid-July to $530-550/mt ex-works in today’s offers, SteelOrbis has learned. The product is available mainly for end of September-October production, but buyers assume shorter lead times would also be available in the event of decent demand. However, the workable levels are considered to be hardly higher than $520/mt ex-works for now. “This is the level but it does not make any sense compared to HDG. The difference should be around $80/mt,” a producer told SteelOrbis. Current hot dip galvanized prices in Turkey are at $620-640/mt ex-works base, up $20/mt since earlier this week.