Over the past week, buyers in the local Turkish cold rolled coil (CRC) market have stepped up their bookings amid their belief that domestic CRC prices in the country will increase further as a result of the rises in global flat steel and raw material prices. Thus, domestic CRC demand in Turkey has increased further. Meanwhile, Turkish CRC producers have maintained their prices at $570-590/mt ex-works in order to continue their sales. Satisfied with the recent deals they have concluded, Turkish CRC producers are expected to increase their prices further in the short term, according to market sources. However, the recovery of demand is not expected to be sustained in the long term due to the negative economic situation in Turkey.
In the spot market, prices of domestic CRC sold by local traders have remained stable week on week and are at the following levels:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
0.6 mm CRC |
610-620 |
620-640 |
|
0.7-2 mm CRC |
580-600 |
590-610 |
The offers are on ex-warehouse basis, for February delivery, and exclude 18 percent VAT.