Over the past week, demand in the local Turkish cold rolled coil (CRC) market has remained at low levels. It is observed that Turkish buyers have continued to postpone their purchases ahead of the local election to be held on Sunday, March 31, while they still monitor the international flat steel markets. In the given week, Turkish CRC producers’ prices have remained stable week on week at $600-620/mt ex-works. Market sources state that demand in the local Turkish CRC market is not expected to record any rapid recovery after the local election. Turkish buyers are foreseen to wait to gain a clearer picture of demand from end-users and also of the movement of the Turkish lira-US dollar exchange rate before restarting their purchases.
In the spot market, prices of domestic CRC sold by local traders have moved sideways week on week and are at the following levels:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
0.6 mm CRC |
650-660 |
660-680 |
|
0.7-2 mm CRC |
620-640 |
630-650 |
The offers are on ex-warehouse basis, for March delivery, and exclude 18 percent VAT.