According to market sources, demand in the local Turkish cold rolled coil (CRC) market for local producers' products has remained quiet this week, while Turkish steel producers' CRC prices have declined by $10/mt over the past week to $520-530/mt ex-works, excluding 18 percent VAT, for August and September production. The main reason behind the declining trend in CRC prices is believed to be the gradual decrease recorded in hot rolled coil (HRC) prices.
On the other hand, demand for CRC in the local Turkish spot market is still sluggish, while traders' CRC prices have remained stable during the past week. Market sources state that prices in the local Turkish spot market are expected to decline in the coming weeks amid the soft trend of HRC prices.
Meanwhile, spot CRC prices in the local Turkish market for July delivery are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
0.6 mm CRC | 590-615 | 595-610 |
0.7-2 mm CRC | 550-565 | 560-575 |
The offers are on ex-warehouse basis and exclude 18 percent VAT.