According to market sources, demand received by domestic producers in the local Turkish cold rolled coil (CRC) market is still weak, while the increases in prices recorded last week have failed to gain acceptance during the current week. Meanwhile, producers' CRC prices have remained unchanged over the past week at $535-545/mt ex-works, excluding VAT, and for July production.
On the other hand, demand for CRC in the local Turkish spot market is also still sluggish, while traders' prices have declined by $10/mt over the past week. Market players report that they are purchasing only in line with their needs and that cash flow problems continue to be seen in the market.
Meanwhile, spot CRC prices in the local Turkish market for May deliveries are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
0.6 mm CRC | 600-625 | 605-620 |
0.7-2 mm CRC | 560-575 | 570-585 |
The offers are on ex-warehouse basis and exclude 18 percent VAT.