Turkish CRC prices hard to go up
2015-06-17 09:29:50 [Print]
BEIJING (Asian Metal) 17 Jun 15 - The price of CRC in Turkey remains stable at the moment. However, the demand from downstream consumers will shrink in the near future because of the coming Ramadan. Insiders think it is likely that CRC prices will come down a little in the following month.
A CRC trader in Kayseri tells Asian Metal that the quotation for DC01 1.0mm*1,250mm*C is USD560/t VAT excluded, the same as that of two weeks ago.
According to him, the price of CRC increased by USD10-15/t in May as prices of imported steel scrap rebounded sharply at that time. “However, prices of scrap went down by USD5-10/t in past two weeks so that steel mills can hardly further lift ex-works prices of CRC for July production,” he says, adding that the Ramadan will begin on June 18 and end on July 17, so the demand for CRC will shrink due to little activity of customers. He has no confidence in a firm price in the near future.
Another CRC trader in Istanbul says that his offer for DC01 1.0mm*1,250mm*C is USD565/t VAT excluded, equaling to that of two weeks ago.
He also confirms the approach of the Ramadan and predicts that the demand from downstream consumers will be weaker in the near future. In addition, he reveals that the demand from Middle East countries will shrink at the same time, so the export market will run more slowly later. As a consequence, the local market performance will be unsatisfactory because of the high inventory and the price of CRC will be powerless to go up. His sales volume of CRC was 1,300 tons in May and he deems it will be around 1,000 tons in June.
A CRC trader in Kayseri tells Asian Metal that the quotation for DC01 1.0mm*1,250mm*C is USD560/t VAT excluded, the same as that of two weeks ago.
According to him, the price of CRC increased by USD10-15/t in May as prices of imported steel scrap rebounded sharply at that time. “However, prices of scrap went down by USD5-10/t in past two weeks so that steel mills can hardly further lift ex-works prices of CRC for July production,” he says, adding that the Ramadan will begin on June 18 and end on July 17, so the demand for CRC will shrink due to little activity of customers. He has no confidence in a firm price in the near future.
Another CRC trader in Istanbul says that his offer for DC01 1.0mm*1,250mm*C is USD565/t VAT excluded, equaling to that of two weeks ago.
He also confirms the approach of the Ramadan and predicts that the demand from downstream consumers will be weaker in the near future. In addition, he reveals that the demand from Middle East countries will shrink at the same time, so the export market will run more slowly later. As a consequence, the local market performance will be unsatisfactory because of the high inventory and the price of CRC will be powerless to go up. His sales volume of CRC was 1,300 tons in May and he deems it will be around 1,000 tons in June.
