Turkish CRC market slow
2015-07-28 08:57:18 [Print]
BEIJING (Asian Metal) 28 Jul 15 - The CRC market in Turkey continues to run slowly after the Ramadan as the demand from downstream consumers remains very weak. Insiders do not think the price of CRC is likely to come down in the near future.
A CRC trader in Kayseri tells Asian Metal that the quotation for DC01 1.0mm*1,250mm*C is USD540/t VAT excluded, the same as that of last week.
According to the source, local steel mills cut ex-works prices of CRC by USD15-20/t to USD520/t VAT excluded for August production, influenced by the weak demand from downstream consumers. In addition, there are some political problems in Turkey at the moment, so that participants show little optimism for the outlook of the market. His sales volume of CRC is predicted to be 500 tons in July, less than the regular level of 700tpm in Q2 of this year.
Another CRC trader in Istanbul says that his offer for DC01 1.0mm*1,250mm*C is USD535/t VAT excluded, unchanged compared with that of last week.
Noted by him, the current price of CRC is around USD20/t lower than that before the Ramadan. However, the demand from downstream consumer shrinks by around 30% after the Ramadan. As a consequence, the source has little confidence in the market recovery in the short term. In addition, the import price of CRC is around USD460-470/t CFR Istanbul, the same as that of last week. He predicts a stable price but a quiet market in the coming week.
A CRC trader in Kayseri tells Asian Metal that the quotation for DC01 1.0mm*1,250mm*C is USD540/t VAT excluded, the same as that of last week.
According to the source, local steel mills cut ex-works prices of CRC by USD15-20/t to USD520/t VAT excluded for August production, influenced by the weak demand from downstream consumers. In addition, there are some political problems in Turkey at the moment, so that participants show little optimism for the outlook of the market. His sales volume of CRC is predicted to be 500 tons in July, less than the regular level of 700tpm in Q2 of this year.
Another CRC trader in Istanbul says that his offer for DC01 1.0mm*1,250mm*C is USD535/t VAT excluded, unchanged compared with that of last week.
Noted by him, the current price of CRC is around USD20/t lower than that before the Ramadan. However, the demand from downstream consumer shrinks by around 30% after the Ramadan. As a consequence, the source has little confidence in the market recovery in the short term. In addition, the import price of CRC is around USD460-470/t CFR Istanbul, the same as that of last week. He predicts a stable price but a quiet market in the coming week.
