Demand in the Turkish domestic cold rolled coil (CRC) market has remained poor since last week. Contrary to the situation regarding stocks in the local hot rolled coil (HRC) market, market sources believe that domestic CRC market inventories are on the high side. However, despite demand being weak and inventories being on the high side, CRC prices have increased by $10/mt over the past week. Market players state that CRC prices have unusually been characterized by weakness over a long period, though they are expected to strengthen in September.
On the other hand, demand for domestic producers' CRC products, while still weak, has improved slightly compared to the pre-Ramadan period, with market sources reporting that order volumes received by producers have increased a little. Meanwhile, Turkish producers' offers for September production CRC can still be found in the range of $680-690/mt ex-works, indicating no changes as compared to last week.
Spot CRC prices are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
0.6 mm CRC | 720-740 | 725-735 |
0.7-2 mm CRC | 680-690 | 690-700 |
The offers are on ex-warehouse basis and exclude 18 percent VAT.
Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.