Demand in the local Turkish rebar market has showed no recovery since our last report on September 1 and is still at low levels. Despite the weakness of demand, domestic rebar prices in Turkey have moved sideways in the same period since import scrap quotations have not lost any value over the past week. Demand for domestic rebar is not expected to improve before the upcoming Feast of Sacrifice holiday and is thought likely to increase slightly after the holiday.
Although domestic rebar prices on Turkish lira basis have remained unchanged since September 1 due to currency fluctuations, prices in the local Turkish rebar market have followed a slight uptrend on US dollar basis in the same period.
As of today, September 5, 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) | ||
| 01.09.2016 | 01.09.2016 | ||||||
| Marmara | 8 mm | 1,195 | 405 | 0 | ↑ | 3 | |
| Marmara | 12 mm | 1,178 | 399 | 0 | ↑ | 2 | |
| Iskenderun | 8 mm | 1,161 | 394 | 0 | ↑ | 3 | |
| Iskenderun | 10 mm | 1,153 | 391 | 0 | ↑ | 2 | |
| Iskenderun | 12 mm | 1,144 | 388 | 0 | ↑ | 3 | |
| Izmir | 8 mm | 1,161 | 394 | 0 | ↑ | 3 | |
| Izmir | 10 mm | 1,153 | 391 | 0 | ↑ | 2 | |
| Izmir | 12 mm | 1,144 | 388 | 0 | ↑ | 3 | |
| Karabuk | 8 mm | 1,186 | 402 | 0 | ↑ | 3 | |
| Karabuk | 12 mm | 1,169 | 396 | 0 | ↑ | 2 | |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 2.95