Demand in the local Turkish cold rolled coil (CRC) market has remained at low levels over the past week and buyers have continued to postpone their bookings due to the sluggish summer season and the negative economic outlook for the country. Despite the weakness of demand, Turkish mills have increased their domestic market prices by $10/mt week on week to $585-605/mt ex-works, impacted by the upwards movements of domestic hot rolled coil (HRC) prices and import CRC offers to the country. According to market sources, demand for domestic CRC in Turkey is not likely to increase in the short term due to summer stagnation.
As for the spot market, traders’ prices have increased by $10/mt week on week and are as follows:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
0.6 mm CRC |
655-665 |
656-685 |
|
0.7-2 mm CRC |
625-645 |
635-655 |
The offers are on ex-warehouse basis, for July delivery, and exclude 18 percent VAT.