During the past week, buyers in the local Turkish cold rolled coil (CRC) market have continued to postpone their CRC purchases due to the declines seen in global flat steel quotations, while demand in the local Turkish CRC market has been at low levels. Although Turkish steel mills have kept their domestic hot rolled coil (HRC) prices stable over the past week amid the accelerated international demand, they have reduced their domestic CRC prices by $10/mt week on week to $700-720/mt ex-works since no support from the export markets has been experienced for CRC.
Meanwhile, Turkish traders’ CRC prices in the local spot market have declined by $10/mt week on week at the following levels:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
0.6 mm CRC |
730-750 |
740-770 |
0.7-2 mm CRC |
700-720 |
710-740 |
The offers are on ex-warehouse basis, for October delivery, and exclude 18 percent VAT.