Demand in the Turkish domestic cold rolled coil (CRC) market has remained low, while spot prices have trended sideways over the past two weeks. Meanwhile, buyers are reluctant to conclude bookings beyond their needs due to certain factors such as the fluctuating trend of the dollar/Turkish lira rate amid strong political tension in Turkey, high inventory levels and tight liquidity in the market.
Meanwhile, Turkish producers' offers for CRC can still be found in the range of $680-690/mt ex-works, indicating no changes as compared to two weeks ago. Despite discounts given by mills in the previous weeks, demand has failed to improve.
Spot CRC prices are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
0.6 mm CRC | 730-740 | 735-750 |
0.7-2 mm CRC | 690-705 | 700-710 |
*Prices, which are on ex-warehouse basis, exclude 18 percent VAT.
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