During the past week, demand received by domestic producers in the local Turkish cold rolled coil (CRC) market has remained weak. Despite this weak demand, Turkish CRC producers have increased their prices by $10/mt week on week, in line with the uptrend in producers’ hot rolled coil (HRC) prices, and also because the range of CRC products available in the market has narrowed as traders have been reluctant to restock for a long time now. Demand is expected to recover after the Sacrifice Feast holiday in mid-September. Accordingly, Turkish CRC producers’ prices have moved up to the range of $500-550/mt ex-works.
Meanwhile, the uptrend in producers’ prices has not yet been reflected in traders’ price offers, and so local traders’ CRC prices in the spot market are unchanged week on week.
Currently, traders’ CRC prices in the local Turkish spot market are as follows:
The offers are on ex-warehouse basis, for September delivery, and exclude 18 percent VAT.