Prices in the local Turkish rebar market have moved on a downtrend compared to the last few days of the past week. Market players underline that there is scarcely any rebar demand in local spot market, while it is heard that one local steel producer has maintained its rebar list prices at approximately TRY1,400/mt ($593/mt) ex-works, including VAT, but is likely to give lower price offers.
It is reported that softer import scrap prices and low-priced import billet transactions in the local Turkish market have been increasing the downward pressure on rebar prices and are preventing any recovery in trading activities, especially from end-users in the spot market.
As of today, January 26, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) |
22.1.2015 | ||||
Marmara | 8 mm | 1,380 | 496 | -20 |
Marmara | 12 mm | 1,360 | 488 | -20 |
Iskenderun | 8 mm | 1,335 | 479 | -15 |
Iskenderun | 10 mm | 1,325 | 476 | -15 |
Iskenderun | 12 mm | 1,315 | 472 | -15 |
Izmir | 8 mm | 1,355 | 487 | -20 |
Izmir | 10 mm | 1,340 | 481 | -20 |
Izmir | 12 mm | 1,330 | 478 | -20 |
Karabuk | 8 mm | 1,370 | 492 | - |
Karabuk | 12 mm | 1,350 | 485 | - |
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 2.36