During the past week, demand received by domestic producers in the local Turkish cold rolled coil (CRC) market has remained weak, while buyers are concluding new bookings only to meet their immediate needs, avoiding restocking activities. Meanwhile, sentiment in the local Turkish CRC market is currently unclear due to the political tension in the country. Market sources state that they are expecting a revival in the market after the Feast of Sacrifice holiday (September 12-15). In line with local hot rolled coil (HRC) producers' decision to keep their prices stable due to the sluggish trading activity, Turkish CRC producers have also maintained their prices levels unchanged week on week at $500-540/mt ex-works.
Meanwhile, demand in the local Turkish cold rolled coil (CRC) spot market has remained at low levels, while local traders' CRC prices in the spot market are also unchanged week on week.
Currently, traders' CRC prices in the local Turkish spot market are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
0.6 mm CRC | 570-590 | 580-600 |
0.7-2 mm CRC | 540-560 | 550-570 |
The offers are on ex-warehouse basis, for August delivery, and exclude 18 percent VAT.