CRC prices unchanged in Turkey
2016-02-04 08:51:19 [Print]
BEIJING (Asian Metal) 4 Feb 16 - Steel mills are planning to increase CRC ex-works prices after they lowered prices by USD10/t last week. The market price for CRC DC01 1.0mm*1,250mm*C is USD420-425/t VAT excluded, the same as that of last week. As the demand for CRC from downstream consumers remains very weak for the time being, insiders predict that it is unlikely for the price to increase in the near future.
A trader in Kayseri told Asian Metal that the quotation for CRC DC01 1.0mm*1,250mm*C from local steel mills is USD425/t VAT excluded, equaling to that of last week. According to the source, last week local steel mills decreased CRC ex-works prices for February production by around USD10/t to USD400-410/t. However, Turkey increased CRC import duty from 4% to 14% for Russia’s materials recently. As a consequence, local steel mills want to increase CRC ex-works prices by USD10/t at the moment.
The source does not think steel mills will succeed in lifting prices this time as there is not much buying activity in the market now. He sold 700 tons in January, down by 30% compared with that in December of 2015. The source has an inventory of 400 tons in hand for the time being and he prefers to be cautious about replenishing stocks 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 USD420/t VAT excluded, unchanged compared with that of last week. Noted by him, the market failed to show any improvement in the past month. His sales volume was around 5,000 tons in January, lower than that of 6,000 tons last December.
The source confirmed the import duty rise for imported CRC from Russia. “I think it is likely that Russia’ steel mills will lower prices or offer some more discounts to attract orders in Turkey in the near future,” said the source, adding that he think Turkey’s steel mills can hardly move up ex-works prices in the near future. Holding an inventory of 2,000 tons in hand, the source is not eager to placing orders with steel mills for the time being.
A trader in Kayseri told Asian Metal that the quotation for CRC DC01 1.0mm*1,250mm*C from local steel mills is USD425/t VAT excluded, equaling to that of last week. According to the source, last week local steel mills decreased CRC ex-works prices for February production by around USD10/t to USD400-410/t. However, Turkey increased CRC import duty from 4% to 14% for Russia’s materials recently. As a consequence, local steel mills want to increase CRC ex-works prices by USD10/t at the moment.
The source does not think steel mills will succeed in lifting prices this time as there is not much buying activity in the market now. He sold 700 tons in January, down by 30% compared with that in December of 2015. The source has an inventory of 400 tons in hand for the time being and he prefers to be cautious about replenishing stocks 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 USD420/t VAT excluded, unchanged compared with that of last week. Noted by him, the market failed to show any improvement in the past month. His sales volume was around 5,000 tons in January, lower than that of 6,000 tons last December.
The source confirmed the import duty rise for imported CRC from Russia. “I think it is likely that Russia’ steel mills will lower prices or offer some more discounts to attract orders in Turkey in the near future,” said the source, adding that he think Turkey’s steel mills can hardly move up ex-works prices in the near future. Holding an inventory of 2,000 tons in hand, the source is not eager to placing orders with steel mills for the time being.
