Demand in the local Turkish cold rolled coil (CRC) spot market has remained slack in this week, just like in the previous week. Despite this weak demand, Turkish producers’ CRC prices have increased by $30/mt week on week to the range of $580-600/mt ex-works, excluding 18 percent VAT and for May production, in line with rising prices of raw material and since higher finished steel prices have started to gain acceptance in the market. Meanwhile, prices in the local Turkish CRC spot market have risen by an average of $25/mt CFR in the same period.
Currently, traders’ CRC prices in the local Turkish spot market are as follows:
The offers are on ex-warehouse basis, for April delivery, and exclude 18 percent VAT.