Demand in the local Turkish rebar market is still seen to be at decent levels following the slight revival recorded after the referendum held on April 16.
The upward movement of import billet prices following the rises seen in import scrap prices at end of April had caused domestic rebar quotations in Turkey to move up, while tight supply also provided support for the increases in domestic rebar prices.
However, with some steel producers announcing lower domestic rebar sales prices today, May 15, the upward trend of domestic rebar prices has come to a halt and domestic rebar prices, which had increased in all regions on May 11-12, moved sideways in some regions, while they softened in other regions.
On the other hand, compared to the price levels in the SteelOrbis report on May 11, domestic rebar prices in Turkey's Istanbul and Karabuk regions have increased by TRY 10/mt, while in the Iskenderun region they have fallen by TRY 30/mt (VAT is included in both these price changes), though in Izmir rebar prices have remained stable.
As of today, May 15, 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) | ||
11.05.2017 | 11.05.2017 | ||||||
Marmara | 8 mm | 1,822 | 513 | ↑ | 8 | ↑ | 8 |
Marmara | 12 mm | 1,805 | 508 | ↑ | 8 | ↑ | 8 |
Iskenderun | 8 mm | 1,771 | 499 | ↓ | 26 | ↓ | 1 |
Iskenderun | 10 mm | 1,763 | 497 | ↓ | 25 | ↓ | 1 |
Iskenderun | 12 mm | 1,754 | 494 | ↓ | 26 | ↓ | 2 |
Izmir | 8 mm | 1,754 | 494 | 0 | ↑ | 5 | |
Izmir | 10 mm | 1,746 | 492 | 0 | ↑ | 6 | |
Izmir | 12 mm | 1,737 | 489 | 0 | ↑ | 5 | |
Karabuk | 8 mm | 1,780 | 501 | ↑ | 9 | ↑ | 8 |
Karabuk | 12 mm | 1,763 | 497 | ↑ | 9 | ↑ | 8 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 3.55