Demand in the local Turkish cold rolled coil (CRC) spot market has remained sluggish this week, since trading activity has slackened during Ramadan and since buyers are postponing their CRC purchases in expectation of further declines in prices. Since Turkish producers’ hot rolled coil (HRC) prices have decreased this week, Turkish CRC producers’ prices have declined by $30/mt on the upper end week on week to $530-570/mt ex-works, excluding 18 percent VAT, for June production. Meanwhile, the CRC prices of traders have also declined week on week, impacted by Turkish producers’ decreases in their CRC prices. Accordingly, CRC prices given by traders in the Eregli and Gebze region have decreased by $20/mt on average week on week.
Currently, traders’ CRC prices in the local Turkish spot market are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
0.6 mm CRC |
580-610 |
600-620 |
0.7-2 mm CRC |
550-580 |
570-590 |
The offers are on ex-warehouse basis, for June delivery, and exclude 18 percent VAT.