According to market sources, demand in the Turkish domestic cold rolled coil (CRC) market for local producers' products has remained slack this week, while the producers' prices have declined by $10/mt during the past week to $460-480/mt ex-works, excluding 18 percent VAT, for October production.
On the other hand, demand for CRC in the local Turkish spot market has also remained quiet during the past week, while traders' CRC prices have declined by $20/mt in the same period. Turkish buyers are postponing their purchases amid the ongoing political uncertainty in the country and due to the US dollar gaining strength against the Turkish lira.
Meanwhile, spot CRC prices in the local Turkish market for August delivery are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
0.6 mm CRC | 535-550 | 530-555 |
0.7-2 mm CRC | 490-505 | 500-515 |
The offers are on ex-warehouse basis and exclude 18 percent VAT.