Demand for domestic producers’ products in the local Turkish cold rolled coil (CRC) market has remained stagnant due to Ramadan, with buyers postponing their CRC purchases until after the end-of-Ramadan holiday. Accordingly, Turkish CRC producers’ prices have declined by $10/mt on the upper end week on week to $530-560/mt ex-works, excluding 18 percent VAT, for July production. Meanwhile, the CRC prices of traders in the local CRC spot market have remained stable week on week, with buyers in the spot market also postponing their bookings as they wait for trading activity to recover after the holiday.
Currently, traders’ CRC prices in the local Turkish spot market are as follows:
The offers are on ex-warehouse basis, for July delivery, and exclude 18 percent VAT.