During the past week, demand in the local Turkish cold rolled coil (CRC) market has remained weak, while Turkish mills have reduced their domestic CRC prices by $10/mt to $670-690/mt ex-works. Market sources state that buyers are unwilling to build up inventories due to the approach of Ramadan and the snap election, while they prefer to postpone their bookings expecting that prices will continue their downward movement with the approach of the summer season.
In the spot market, prices of domestic CRC sold by local traders have declined by $10/mt week on week.
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
0.6 mm CRC |
750-760 |
760-780 |
0.7-2 mm CRC |
720-730 |
730-750 |
The offers are on ex-warehouse basis, for May delivery, and exclude 18 percent VAT.