CRC prices go back to downward trend in Turkey
2016-05-27 08:49:29 [Print]
BEIJING (Asian Metal) 27 May 16 - Influenced by the bad market performance, prices of CRC in Turkey stopped going up and recorded a mark-down of USD20/t in the past week, even though steel mills have not cut ex-works prices yet. The current market price for CRC DC01 1.0mm*1,250mm*C is USD640-650/t VAT excluded. As the demand will shrink fast in Ramadan, which will begin on June 6, insiders predict CRC prices are likely to go on decreasing in the near future.
A trader in Istanbul said that the price of CRC DC01 1.0mm*1,250mm*C from local steel mills is USD640/t VAT excluded, falling by around USD20/t compared with that of a week ago. The source revealed that traders are trying to reduce stocks as the Ramadan and summer holiday are coming. “We will stop work in the end of May and come back on June 15. Some companies who are buying CRC will have a 20-day or even 30-day holiday in June,” said the source.
Holding an inventory of 1,400 tons against the regular level of 2,000 tons, the source revealed that he began to reduce stocks in middle of the month, when prices started to show some signs of falling back. His sales volume is about 3,000 tons in May while he predicts a stagnant market in June.
A trader in Kayseri told Asian Metal that the price of CRC DC01 1.0mm*1,250mm*C is USD650/t VAT excluded, down by USD20/t compared with that of a week ago. Noted by the source, the market price has fallen by around USD50/t since it reached the peak level in middle May. However, steel mills are still asking USD700/t for July production.
The source revealed that his inventory is about 600 tons at this moment and his order with steel mills for June production is 500 tons, which is only 50% of the regular level and will be delivered in coming two weeks. He revealed that his sales volume is to be 400 tons in May, lower than that of 500 tons in April. Considering that the demand will shrink fast in Ramadan, he feels that he will be faced with problems of reducing stocks
A trader in Istanbul said that the price of CRC DC01 1.0mm*1,250mm*C from local steel mills is USD640/t VAT excluded, falling by around USD20/t compared with that of a week ago. The source revealed that traders are trying to reduce stocks as the Ramadan and summer holiday are coming. “We will stop work in the end of May and come back on June 15. Some companies who are buying CRC will have a 20-day or even 30-day holiday in June,” said the source.
Holding an inventory of 1,400 tons against the regular level of 2,000 tons, the source revealed that he began to reduce stocks in middle of the month, when prices started to show some signs of falling back. His sales volume is about 3,000 tons in May while he predicts a stagnant market in June.
A trader in Kayseri told Asian Metal that the price of CRC DC01 1.0mm*1,250mm*C is USD650/t VAT excluded, down by USD20/t compared with that of a week ago. Noted by the source, the market price has fallen by around USD50/t since it reached the peak level in middle May. However, steel mills are still asking USD700/t for July production.
The source revealed that his inventory is about 600 tons at this moment and his order with steel mills for June production is 500 tons, which is only 50% of the regular level and will be delivered in coming two weeks. He revealed that his sales volume is to be 400 tons in May, lower than that of 500 tons in April. Considering that the demand will shrink fast in Ramadan, he feels that he will be faced with problems of reducing stocks
