Demand in the local Turkish rebar market has remained stable during the past week and is still at low levels. Buyers in the local Turkish rebar market have maintained a cautious stance as regards new purchases amid lower import scrap prices in the deals concluded this week in Turkey as well as the depreciation of the Turkish lira against the US dollar and also due to the fluctuating trend seen in Chinese steel market.
On the other hand, with Turkish lira depreciating to TRY 3.46 to the US dollar today, Turkish steel producer Icdas announced a TRY 30/mt increase in its domestic rebar quotations. This decision has triggered a change of trend in the local Turkish rebar market, leading domestic rebar prices to move up by TRY 10-30/mt compared to September 11, except in Turkey’s Iskenderun region. In Iskenderun, following the TRY 20/mt decline recorded in domestic rebar quotations on September 11-13, prices moved up by TRY 10/mt today and are now TRY 10/mt lower compared to the price levels mentioned in SteelOrbis’ report on September 11.
As of today, September 14, traders’ rebar offers in the Turkish domestic market are as follows:
|
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) |
Price changes ($/mt) |
||
|
11.09.2017 |
11.09.2017 |
||||||
|
Marmara |
8 mm |
1,949 |
563 |
↑ |
25 |
↓ |
1 |
|
Marmara |
12 mm |
1,932 |
558 |
↑ |
25 |
↓ |
1 |
|
Iskenderun |
8 mm |
1,924 |
556 |
↓ |
8 |
↓ |
11 |
|
Iskenderun |
10 mm |
1,915 |
554 |
↓ |
9 |
↓ |
10 |
|
Iskenderun |
12 mm |
1,907 |
551 |
↓ |
8 |
↓ |
11 |
|
Izmir |
8 mm |
1,932 |
558 |
↑ |
8 |
↓ |
6 |
|
Izmir |
10 mm |
1,924 |
556 |
↑ |
9 |
↓ |
6 |
|
Izmir |
12 mm |
1,915 |
554 |
↑ |
8 |
↓ |
5 |
|
Karabuk |
8 mm |
1,949 |
563 |
↑ |
17 |
↓ |
4 |
|
Karabuk |
12 mm |
1,932 |
558 |
↑ |
17 |
↓ |
4 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 3.46