During the past week, demand in the local Turkish cold rolled coil (CRC) market has remained at low levels, while Turkish mills have reduced their domestic CRC prices by $20/mt to $680-700/mt ex-works as a result of downward pricing pressure from buyers. Market sources state that buyers are expected to increase their CRC bookings from domestic producers following the latest price reductions by producers and due to the safeguard investigation Turkey has initiated on import steel.
In the spot market, prices of domestic CRC sold by local traders have declined by $10/mt week on week due to downward price pressure from buyers.
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
0.6 mm CRC |
760-770 |
770-790 |
0.7-2 mm CRC |
730-740 |
740-760 |
The offers are on ex-warehouse basis, for May delivery, and exclude 18 percent VAT.