Demand in the local Turkish cold rolled coil (CRC) market has remained at low levels over the past week. Meanwhile, Turkish buyers have continued to conclude purchases only in line with their needs as they are monitoring the movements in global flat steel prices. Market sources believe that demand for domestic CRC in Turkey is unlikely to improve in the coming period due to the sluggish summer season and the negative economic outlook for the country. However, according to market sources, domestic CRC prices in Turkey may increase slightly in the short term as a result of higher global flat steel quotations. On the other hand, Turkish mills’ offers to their domestic market have remained stable week on week at $575-595/mt ex-works.
As for the spot market, traders’ prices have remained unchanged week on week and are as follows:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
0.6 mm CRC |
645-655 |
655-675 |
|
0.7-2 mm CRC |
615-635 |
625-645 |
The offers are on ex-warehouse basis, for July delivery, and exclude 18 percent VAT.