Over the past week, demand in the local Turkish cold rolled coil (CRC) market has remained weak and Turkish CRC producers have decreased their prices by $20/mt to $580-600/mt ex-works. Buyers are still cautious about concluding new deals due to the fluctuations of the Turkish lira-US dollar exchange rate and the negative economic situation in the country. According to market sources, demand for domestic CRC in Turkey is unlikely to recover in the short term amid the approach of Ramadan.
In the spot market, prices of domestic CRC sold by local traders have moved sideways week on week and are at the following levels:
|
Product |
Price ($/mt) |
|
|
Eregli |
Gebze |
|
|
0.6 mm CRC |
650-660 |
660-680 |
|
0.7-2 mm CRC |
620-640 |
630-650 |
The offers are on ex-warehouse basis, for April delivery, and exclude 18 percent VAT.