Local Turkish CRC market trends sideways

Friday, 29 July 2016 16:44:39 (GMT+3)   |   Istanbul
       

Demand in the local Turkish cold rolled coil (CRC) spot market has remained slack this week, just like in the previous week. Buyers are postponing their CRC bookings due to the strengthening of the US dollar against the Turkish lira with the declaration of a state of emergency following the coup attempt in Turkey on July 15 and due to the cash flow problems in the market. However, since hot rolled coil (HRC) prices have remained stable this week, CRC producers and traders have maintained their price levels unchanged. 
 
In this context, Turkish CRC producers’ offers to their local markets have remained stable at $500-540/mt ex-works. 
 
Currently, traders’ CRC prices in the local Turkish spot market are as follows:
 

 Product

Price ($/mt)

Eregli

Gebze

0.6 mm CRC

570-590

580-600

0.7-2 mm CRC

540-560

550-570

                                                                            
The offers are on ex-warehouse basis, for August delivery, and exclude 18 percent VAT.
 


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