During the past week, traders have stepped up their domestic cold rolled coil (CRC) purchases due to the low levels of their inventories, with demand received by Turkish CRC producers consequently starting to improve. It is reported that the rises in CRC prices recorded last week have gained acceptance in the local market over the past week and CRC quotations are expected to continue their upward movement if the rising trend of domestic hot rolled coil (HRC) prices continues in the coming days.
In the meantime, Turkish steel producers' CRC prices for their domestic market have remained stable week on week at $640-660/mt ex-works.
Additionally, product availability in the Turkish CRC spot market is tight, while demand is still at low levels due to the ongoing political and economic uncertainties in the country. Turkish traders' CRC prices in the local Turkish spot market have moved sideways week on week and are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
0.6 mm CRC | 690-700 | 700-720 |
0.7-2 mm CRC | 660-670 | 670-690 |
The offers are on ex-warehouse basis, for March delivery, and exclude 18 percent VAT.