Demand in the local Turkish cold rolled coil (CRC) spot market has declining slightly during the past week and is still at low levels. Transaction activity in the local Turkish CRC market has slowed down in the current week following the coup attempt in Turkey on July 15, causing buyers to stay away from concluding any CRC deals amid the ongoing political tension in the country, and due to the sharp changes recorded in the Turkish lira-US dollar exchange rate.
Meanwhile, Turkish CRC producers' offers to their local markets have declined by $15/mt week on week to $500-540/mt ex-works, while the CRC prices of local traders have remained unchanged in the same period.
Currently, traders' CRC prices in the local Turkish spot market are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
0.6 mm CRC | 570-590 | 580-600 |
0.7-2 mm CRC | 540-560 | 550-570 |
The offers are on ex-warehouse basis, for July delivery, and exclude 18 percent VAT.