Having received demand for 15,500 mt of rebar in total so far, Turkish steelmaker Kardemir has not yet closed its domestic rebar sales, which it had opened on February 18 at the price level of TRY 1,240/mt ($556/mt) ex-works, excluding VAT. Meanwhile, the US dollar-Turkish lira exchange rate is indicating fluctuations amid increased political tensions, causing buyers to remain cautious. In the meantime, local traders have revised their spot prices upward today, February 27.
As of today, February 27, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) 24.2.2014 |
Marmara | 8 mm | 1,520 | 578 | +40 |
Marmara | 12 mm | 1,500 | 570 | +40 |
Iskenderun | 8 mm | 1,480 | 562 | +10 |
Iskenderun | 10 mm | 1,470 | 559 | +10 |
Iskenderun | 12 mm | 1,460 | 555 | +10 |
Izmir | 8 mm | 1,485 | 564 | +30 |
Izmir | 10 mm | 1,470 | 559 | +30 |
Izmir | 12 mm | 1,460 | 555 | +30 |
Karabuk | 8 mm | 1,490 | 566 | +20 |
Karabuk | 12 mm | 1,470 | 559 | +20 |
All prices are ex-warehouse and on actual weight basis. The TRY prices include 18 percent VAT, while the US$ prices exclude VAT.
$1 = TRY 2.23