Demand has remained in the local Turkish cold rolled coil (CRC) market as political and economic uncertainty continues to be observed in the country after the referendum on April 16. In addition to the weakness of demand, the declines recorded in the global flat steel market have caused Turkish steel producers to reduce their domestic CRC prices by $30/mt week on week to $610-630/mt ex-works.
Meanwhile, Turkish traders' CRC prices in the local Turkish spot market remained stable at the following levels:
Product | Price ($/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.