During the past week, demand in the local Turkish cold rolled coil (CRC) market has remained weak since buyers have continued to maintain a wait-and-see stance while monitoring global flat steel quotations. Turkish buyers have stated that they are waiting to gain a clearer picture of the CRC price trend in the global market after Chinese market players return from their holiday, so that they can increase their bookings. For now, producer prices in the local Turkish CRC market are still at $700-720/mt ex-works.
Meanwhile, Turkish traders’ CRC prices in the local spot market have remained unchanged week on week at the following levels:
Product |
Price ($/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.