Over the past week, buyers in the local Turkish cold rolled coil (CRC) market continued to postpone their bookings ahead of the new year and demand remained slack. Although local buyers have started to make inquiries as of January 2, they are exerting pressure on prices. While buyers are seeking to conclude deals at lower price levels due to the negative economic situation in Turkey and due to their strong expectations that global flat steel prices will continue to soften in the coming period, Turkish CRC producers will likely conclude deals at lower prices with price reductions during actual transactions. For now, Turkish producers’ domestic CRC prices are still at $570-590/mt ex-works, excluding 18 percent VAT.
In the spot market, prices of domestic CRC sold by local traders have also remained stable week on week and are at the following levels:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
0.6 mm CRC |
610-620 |
620-640 |
|
0.7-2 mm CRC |
580-600 |
590-610 |
The offers are on ex-warehouse basis, for January delivery, and exclude 18 percent VAT.