Turkish cold rolled coil (CRC) producers have held domestic prices steady for the fourth consecutive week to encourage sales from cautious consumers.
Small tonnages have been sold at $790-800 per tonne exw for May production and delivery, a level unchanged since mid-April
, according to Metal Bulletin pricing archives.
Demand for Turkish CRC remains scant and buying activity has been slow due to a lack of demand from end-users in the automotive and white goods sectors.
“Buyers are holding off from purchasing CRC this week,” one trader said. “Everything comes down to demand, and it’s not there right now.”
There is more demand for hot rolled coil purchased from local producers such as Colakoglu, Erdemir, MMK and Toscelik rather than for CRC, Metal Bulletin was told.
Turkish market participants expect a revival in Turkish CRC sales in one or two weeks’ time, with consumers likely to return to the market to replenish stocks.