CRC prices continue to decrease in Turkey
2016-06-30 09:32:42 [Print]
BEIJING (Asian Metal) 30 Jun 16 - As the demand from downstream consumers continues to weaken in the Ramadan, the price of CRC continued on the downward trend in Turkey in the past week. The current market price for CRC DC01 1.0mm*1,250mm*C is USD550-560/t VAT excluded, down by USD10/t compared with that of a week ago. As most participants will begin to take holiday next week and come back to work after 11 July, insiders predict CRC market will see little improvement in the short term.
A trader in Istanbul said that the price of CRC DC01 1.0mm*1,250mm*C from local steel mills is USD550/t VAT excluded, down by around USD10/t compared with that of a week ago. Noted by the source, traders and buyers will start to take the holiday for the Lasser Bairam on 2 July and will be back to work on 11 July. “I think the market will be frozen in Turkey next week,” said the source.
According to the source, the demand for steel products continued to shrink in the Ramadan. “Our sales volume for CRC and HRC was about 5,000-6,000 tons per month in April and May, but it is about 4,000 tons in June,” said the source, adding that his inventory for CRC is about 3,000 tons at present. The company has no plan to replenish stocks before the holiday.
A trader in Kayseri told Asian Metal that the price of CRC DC01 1.0mm*1,250mm*C is USD560/t VAT excluded, down by USD10/t compared with that of a week ago. “Some local steel mills cut ex-works prices to USD560/t for August production, down by USD140/t compared with that of a week ago,” said the source, adding that the market price has fallen by USD110-130/t in recent two month. “I do not think most traders will accept the current price and steel mills need to further lower prices by about USD40/t to attract orders as the demand is too weak in June,” he said.
Holding an inventory of 1,200 tons in hand, the source refused to place any order with steel mills for August production. His sales volume was about 1,400 tons in May while it is likely to be 1,000 tons in June. The source confirms that he will take the holiday next week and come back to the market on 11 July. As far as he is concerned, the market can hardly see any improvement in July.
A trader in Istanbul said that the price of CRC DC01 1.0mm*1,250mm*C from local steel mills is USD550/t VAT excluded, down by around USD10/t compared with that of a week ago. Noted by the source, traders and buyers will start to take the holiday for the Lasser Bairam on 2 July and will be back to work on 11 July. “I think the market will be frozen in Turkey next week,” said the source.
According to the source, the demand for steel products continued to shrink in the Ramadan. “Our sales volume for CRC and HRC was about 5,000-6,000 tons per month in April and May, but it is about 4,000 tons in June,” said the source, adding that his inventory for CRC is about 3,000 tons at present. The company has no plan to replenish stocks before the holiday.
A trader in Kayseri told Asian Metal that the price of CRC DC01 1.0mm*1,250mm*C is USD560/t VAT excluded, down by USD10/t compared with that of a week ago. “Some local steel mills cut ex-works prices to USD560/t for August production, down by USD140/t compared with that of a week ago,” said the source, adding that the market price has fallen by USD110-130/t in recent two month. “I do not think most traders will accept the current price and steel mills need to further lower prices by about USD40/t to attract orders as the demand is too weak in June,” he said.
Holding an inventory of 1,200 tons in hand, the source refused to place any order with steel mills for August production. His sales volume was about 1,400 tons in May while it is likely to be 1,000 tons in June. The source confirms that he will take the holiday next week and come back to the market on 11 July. As far as he is concerned, the market can hardly see any improvement in July.
