During the past week, demand has remained weak in the local Turkish cold rolled coil (CRC) market, while CRC prices have moved down following the softening of local hot rolled coil prices. According to market sources, coupled with ongoing weak demand, negative sentiment in global flat steel markets is likely to result in further declines in CRC prices in the short term.
In the meantime, Turkish steel producers’ CRC prices for their domestic market have moved down by $10/mt compared to the previous week to the range of $640-660/mt ex-works.
Turkish traders’ CRC prices in the local Turkish spot market have decreased by $25/mt week on week to the following levels:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
0.6 mm CRC |
670-690 |
680-710 |
0.7-2 mm CRC |
640-660 |
650-680 |
The offers are on ex-warehouse basis, for April delivery, and exclude 18 percent VAT.