Domestic cold rolled coil (CRC) prices in Turkey have remained stable over the past week, while demand in the local Turkish CRC market has remained at low levels in the same period. Accordingly, Turkish mills’ domestic CRC prices have moved sideways in the range of $580-600/mt ex-works. It is observed that Turkish buyers are still avoiding purchases except to meet their immediate needs amid the negative outlook for the Turkish economy and also due to the rapid depreciation of the Turkish lira against the US dollar. Market sources do not expect demand to increase in the short term due to the approach of Ramadan and the summer season.
In the spot market, prices of domestic CRC sold by local traders have moved sideways week on week and are at the following levels:
|
Product |
Price ($/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 April delivery, and exclude 18 percent VAT.