Demand in the local Turkish CRC market has remained at low levels over the past week. Buyers in the market have postponed their purchases due to the depreciation of the Turkish lira against other currencies and have started to monitor the movements of global flat steel prices. Market sources state that domestic CRC demand in Turkey is not expected to recover in the short term given the negative outlook of the economy and also due to Ramadan. Under the current circumstances, Turkish mills have kept their domestic CRC prices stable week on week at $580-600/mt ex-works.
In the spot market, prices of domestic CRC sold by local traders have moved sideways week on week and are at the following levels:
|
Product |
Price ($/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 May delivery, and exclude 18 percent VAT.