Domestic cold rolled coil (CRC) prices in Turkey have continued to move up despite the weakness of demand. Accordingly, Turkish steel mills have increased their domestic CRC prices by $30/mt over the past week to $650-670/mt ex-works. But, having previously increased their inventory levels, buyers in the local Turkish CRC market have not accepted these price levels and have exerted downward pressure on prices, which they believe have reached peak levels. Buyers are expected to continue exerting pressure on prices in the short term, while monitoring the trend of the global flat steel market.
In the spot market, prices of domestic CRC sold by local traders have increased by $40/mt week on week and are at the following levels:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
0.6 mm CRC |
690-700 |
700-720 |
|
0.7-2 mm CRC |
660-680 |
670-690 |
The offers are on ex-warehouse basis, for February delivery, and exclude 18 percent VAT.