Over the past week, prices in the local Turkish cold rolled coil (CRC) market have continued to soften and declined by $15/mt to $610-630/mt ex-works, as a result of buyers’ downward pricing pressure. Despite the decreases in prices, trading activity in the market has not improved and demand has remained slack. According to market sources, the belief that prices have reached the bottom has started to strengthen among market players and Turkish mills are unlikely to reduce their prices further in the short term.
In the spot market, prices of domestic CRC sold by local traders have declined by $20/mt week on week and are at the following levels:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
0.6 mm CRC |
660-670 |
670-690 |
|
0.7-2 mm CRC |
630-650 |
640-660 |
The offers are on ex-warehouse basis, for October delivery, and exclude 18 percent VAT.