Demand in the local Turkish cold rolled coil (CRC) spot market has remained slack this week. Believing that prices will decrease further in the coming period, buyers continue to postpone their bookings, supported by the declines seen in Turkish producers’ hot rolled coil (HRC) prices. Since one Turkish CRC producer determined its prices for the domestic market at $530-540/mt ex-works based on the increase in its production, producers’ prices in Turkish CRC market have declined by $70/mt on the low end. Meanwhile, producers’ prices have also decreased by $30/mt on the upper end amid the decreases in HRC prices. Accordingly, Turkish producers’ CRC prices have started to range at $530-600/mt ex-works, excluding 18 percent VAT, for June production. Meanwhile, the CRC prices of traders have also remained stable week on week.
Currently, traders’ CRC prices in the local Turkish spot market are as follows:
The offers are on ex-warehouse basis, for June delivery, and exclude 18 percent VAT.