Demand in the local Turkish cold rolled coil (CRC) market is still at low levels, unchanged since last week. As a result of the weakness of demand as well as the declines recorded in domestic hot rolled coil (HRC) quotations, Turkish steel producers have reduced their domestic CRC prices by $10/mt week on week to $600-620/mt ex-works.
The fall in Turkish steel mills' CRC prices has not influenced the spot market yet, with local traders' CRC offers moving sideways over the past week. Turkish traders' CRC prices in the local Turkish spot market are at the following levels:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
0.6 mm CRC |
660-680 |
670-700 |
0.7-2 mm CRC |
630-650 |
640-670 |
The offers are on ex-warehouse basis, for May delivery, and exclude 18 percent VAT.