Demand in the local Turkish cold rolled coil (CRC) market has remained at low levels over the past week, while prices have remained unchanged in the given period. Despite the decreases recorded in hot rolled coil (HRC) prices in Turkey this week, domestic CRC prices have maintained their levels due to higher scrap quotations. It is observed that Turkish CRC producers want to monitor the market further while they keep their domestic offers unchanged in the range of $650-670/mt ex-works. However, Turkish buyers are still exerting downward pressure on domestic CRC prices and continue to postpone their purchases as they expect to see a decline in prices. Market sources state that buyers are awaiting a fall in prices before restarting purchases as their inventory levels are satisfactory, and so the downward pressure on prices is expected to be continue in the short term.
In the spot market, prices of domestic CRC sold by local traders have remained stable week on week and are at the following levels:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
0.6 mm CRC |
690-700 |
700-720 |
|
0.7-2 mm CRC |
660-680 |
670-690 |
The offers are on ex-warehouse basis, for March delivery, and exclude 18 percent VAT.