According to market sources, demand in the local Turkish cold rolled coil (CRC) market for local producers' products is still slack this week, while Turkish steel producers' CRC prices have remained stable over the past week at $530-540/mt ex-works, excluding 18 percent VAT, for August production.
On the other hand, demand for CRC in the local Turkish spot market is also sluggish. Buyers are only concluding deals to meet their immediate meets, due to political uncertainty in Turkey and due to Ramadan. Meanwhile, traders' CRC prices have remained stable over the past week.
Meanwhile, spot CRC prices in the local Turkish market for June delivery are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
0.6 mm CRC | 590-615 | 595-610 |
0.7-2 mm CRC | 550-565 | 560-575 |
The offers are on ex-warehouse basis and exclude 18 percent VAT.