Demand in the local Turkish cold rolled coil (CRC) market has remained at medium levels this week. Over the past week, Turkish CRC produces have increased their prices for the domestic market due to higher raw material costs amid the ongoing upward movements of prices of scrap, iron ore and coils in the global markets. Accordingly, domestic producers’ CRC prices in Turkey have increased by $10/mt week on week to $550-590/mt ex-works.
On the other hand, CRC demand in local Turkish spot market has decreased slightly over the past week and is now at weak levels. Despite the weakness of demand, traders have increased their prices by $10/mt week on week due to the uptrend of domestic hot rolled coil (HRC) prices and the increases in producers’ quotations.
Currently, traders’ CRC prices in the local Turkish spot market are as follows:
| Product | Price ($/mt) | |
| Eregli | Gebze | |
| 0.6 mm CRC | 600-610 | 610-630 |
| 0.7-2 mm CRC | 570-580 | 580-600 |
The offers are on ex-warehouse basis, for November delivery, and exclude 18 percent VAT.