According to market sources, demand in the local Turkish cold rolled coil (CRC) market for local producers' products has remained quiet this week, while Turkish steel producers' CRC prices have remained stable over the past week at $530-540/mt ex-works, excluding 18 percent VAT, for August production. Market sources state that import CRC prices are putting downward pressure on Turkish producers' prices.
On the other hand, demand for CRC in the local Turkish spot market is also sluggish, due to the political uncertainty in Turkey and due to Ramadan. Meanwhile, traders' CRC prices have remained stable over the past week.
Meanwhile, spot CRC prices in the local Turkish market for July delivery are as follows:
Product | Price ($/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.