During the past week, demand in the local Turkish cold rolled coil (CRC) market has continued to remain sluggish, with buyers maintaining their cautious stance. However, Turkish steel mills' export sales of hot rolled coil (HRC) have improved since the beginning of February and so they have increased their HRC prices, causing discounts on CRC quotations to disappear. Given the rises in raw material prices, Turkish producers' CRC offers are expected to move up in the short term. Meanwhile, domestic CRC prices in the local Turkish market have remained stable week on week at $630-650/mt ex-works.
Currently, traders' CRC prices in the local Turkish spot market are still as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
0.6 mm CRC |
680-690 |
690-710 |
0.7-2 mm CRC |
650-660 |
660-680 |
The offers are on ex-warehouse basis, for February delivery, and exclude 18 percent VAT.