Over the past week, producer prices in the local Turkish cold rolled coil (CRC) market have increased by $10/mt to $710-730/mt ex-works, despite the ongoing weakness of demand. Although the upward movement of global flat steel prices has come to an end since Chinese hot rolled coil (HRC) offers have switched to a downward trend, Turkish mills have increased their CRC prices for the domestic market as a result of the rises seen in domestic HRC prices. Meanwhile, Turkish buyers are cautious about making fresh CRC bookings in anticipation of a price reduction by domestic mills.
Meanwhile, Turkish traders’ CRC prices in the local spot market have remained unchanged week on week at the following levels:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
0.6 mm CRC |
740-760 |
750-780 |
|
0.7-2 mm CRC |
710-730 |
720-750 |
The offers are on ex-warehouse basis, for September delivery, and exclude 18 percent VAT.