Buyers in the local Turkish cold rolled coil (CRC) market have continued to adopt a cautious stance in terms of making new bookings during the past week, while producers’ prices have remained unchanged week on week at $575-595/mt ex-works. According to market sources, the downtrend in global flat steel prices has ended with the support of the increases in scrap prices and, therefore, the expectations that CRC prices in Turkey may increase in the coming period have strengthened. Although demand for domestic CRC in Turkey is unlikely to improve significantly in the coming period due to sluggish summer season, buyers may increase their bookings slightly before any possible rise in prices in order to fill some of their inventories.
As for the spot market, demand has also remained slack, while traders’ prices have remained unchanged week on week and are as follows:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
0.6 mm CRC |
645-655 |
655-675 |
0.7-2 mm CRC |
615-635 |
625-645 |
The offers are on ex-warehouse basis, for July delivery, and exclude 18 percent VAT.