Following the rises seen in domestic hot rolled coil (HRC) prices in the current week, Turkish steel mills have increased their cold rolled coil (CRC) offers to their domestic market by $30/mt week on week to $615-625/mt ex-works. However, Turkish buyers have limited their purchases in line with their needs due to the ongoing political and economic uncertainties in the country.
Meanwhile, the Turkish CRC spot market has also indicated upward movement with the influence of the rises seen in HRC quotations. However, buyers in the Turkish CRC spot market have maintained a cautious wait-and-see stance amid the sharp depreciation of the Turkish lira against the US dollar.
Currently, traders' CRC prices in the local Turkish spot market are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
0.6 mm CRC | 630-640 | 640-660 |
0.7-2 mm CRC | 600-610 | 610-630 |
The offers are on ex-warehouse basis, for November delivery, and exclude 18 percent VAT.