According to market sources, Turkish steel producers' CRC prices have decreased by $5/mt on the lower end week on week to $530-540/mt ex-works, excluding VAT and for June production.
On the other hand, demand for CRC in the local Turkish spot market has failed to improve and is still weak, while prices have declined by $10/mt over the past week. Downward pressure on market prices still exists amid negative factors including weak demand, difficulties in collection of payments and the increased strength of the US dollar against the Turkish lira. Meanwhile, spot CRC prices in the local Turkish market are as follows:
Product | Price ($/mt) | |
Eregli | Gebze | |
0.6 mm CRC | 620-645 | 625-640 |
0.7-2 mm CRC | 580-595 | 590-605 |
The offers are on ex-warehouse basis and exclude 18 percent VAT.