According to market sources, demand in the local cold rolled coil (CRC) market in Turkey has continued to be characterized by weakness during the past week. Turkish steel producers' CRC prices have decreased by $5/mt week on week to $535-540/mt ex-works, excluding VAT and for June production, since buyers have been unwilling to make purchases due to the declines in hot rolled coil prices and tight liquidity.
Meanwhile, since the producers reduced their prices and as demand is weak, spot CRC prices in the local Turkish market have decreased by $10/mt and are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
0.6 mm CRC | 630-655 | 635-650 |
0.7-2 mm CRC | 590-605 | 600-615 |
The offers are on ex-warehouse basis and exclude 18 percent VAT.