Last week, trading activity in the local Turkish cold rolled coil (CRC) market was very slow due to the end-of-Ramadan holiday. This week, buyers have started making price inquiries, though they are not in any rush to resume their bookings and, instead, are monitoring the trends in the global markets. Turkish CRC producers, whose order books are fairly full, have not revised their prices for now but have kept them at $590-610/mt ex-works. According to market sources, no significant recovery is expected in demand for domestic CRC in Turkey in the short term due to the usual stagnation during the summer season, though prices are unlikely to decrease since producers’ order books are fairly full and as global iron ore prices are still strong.
As for the spot market, demand has also remained slack, while traders’ prices have remained stable week on week.
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
0.6 mm CRC |
655-665 |
665-685 |
|
0.7-2 mm CRC |
625-645 |
635-655 |
The offers are on ex-warehouse basis, for June delivery, and exclude 18 percent VAT.