During the past week, demand in the Turkish domestic cold rolled coil (CRC) market has increased due to buyers’ expectations that the uptrend of domestic hot rolled coil (HRC) prices would be reflected in domestic CRC quotations, and this resulted in decent demand in the market. Meanwhile, local producers’ CRC prices have remained unchanged week on week at $600-620/mt ex-works. Market players expect that domestic CRC prices in Turkey will increase in the short term, supported by the ongoing uptrend of prices of raw material and flat steel in the global market.
In the spot market in Turkey, CRC demand has increased but has been restricted because of liquidity issues among buyers. Turkish traders’ CRC prices in the local Turkish spot market are unchanged week on week at the following levels:
Product |
Price ($/mt) |
|
Eregli |
Gebze |
|
0.6 mm CRC |
680-700 |
690-720 |
0.7-2 mm CRC |
650-670 |
660-690 |
The offers are on ex-warehouse basis, for August delivery, and exclude 18 percent VAT.