As a result of the ongoing economic and political uncertainties in Turkey, buyers in the local Turkish cold rolled coil (CRC) market have continued to purchase only in line with their needs, causing demand to remain weak during the past week. Market sources state that the cautious mood in the local Turkish CRC market will not come to an end before the uncertainties in question are resolved, and so no revival in domestic demand is foreseen in the short term. Meanwhile, domestic CRC prices in the local Turkish market have remained stable week on week at $630-650/mt ex-works.
Currently, traders' CRC prices in the local Turkish spot market are still as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
0.6 mm CRC | 680-690 | 690-710 |
0.7-2 mm CRC | 650-660 | 660-680 |
The offers are on ex-warehouse basis, for February delivery, and exclude 18 percent VAT.