During the past week, while demand has slowed down in the local Turkish cold rolled coil (CRC) market since buyers have mostly completed their purchases, local cold rolled coil prices have moved up in line with the increases seen in hot rolled coil (HRC) prices. Domestic CRC demand is not expected to see a significant recovery ahead of the referendum to be held on April 16, while CRC prices will likely maintain their upward movement if global raw material and HRC prices continue to increase.
Turkish steel producers’ CRC prices for their domestic market have increased by $10/mt week on week to $650-670/mt ex-works.
Turkish traders’ CRC prices in the local Turkish spot market have also moved up by $10/mt week on week and are currently as follows:
| Product | Price ($/mt) | |
| Eregli | Gebze | |
| 0.6 mm CRC | 700-710 | 710-730 |
| 0.7-2 mm CRC | 670-680 | 680-700 |
The offers are on ex-warehouse basis, for March delivery, and exclude 18 percent VAT.