Domestic political tensions impact Turkish rebar market

Monday, 03 March 2014 17:05:18 (GMT+3)   |   Istanbul
       

 

Turkish producers' local rebar prices are currently standing at TRY 1,240-1,267/mt ($559-571/mt) ex-works, excluding VAT. Meanwhile, having received demand for 17,500 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 ($559/mt) ex-works, excluding VAT.

Internal political turmoil over the past week has resulted in fluctuations in the US dollar-Turkish lira exchange rate, causing buyers to be cautious about concluding new deals. The Turkish domestic rebar market is expected to be characterized by uncertainty until the local elections due to take place on March 30, while the rebar prices of both traders and mills will likely indicate increases after the elections due to the anticipated rise in electricity and power costs in the post-election period. 

As of today, March 3, traders' rebar offers in the Turkish domestic market are as follows:

Region

Dimension

Price (TRY/mt)

 

Price ($/mt)

 

Price changes (TRY/mt) 27.2.2014

Marmara

8 mm

1,510

576

-10

Marmara

12 mm

1,490

569

-10

Iskenderun

8 mm

1,480

565

0

Iskenderun

10 mm

1,470

561

0

Iskenderun

12 mm

1,460

557

0

Izmir

8 mm

1,475

563

-10

Izmir

10 mm

1,460

557

-10

Izmir

12 mm

1,450

554

-10

Karabuk

8 mm

1,480

565

-10

Karabuk

12 mm

1,460

557

-10

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 2.22


Similar articles

Domestic rebar prices in Taiwan - week 13, 2024

29 Mar | Longs and Billet

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkish domestic dollar-based rebar spot prices soften

28 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

Rebar consumption in Mexico decreases 3.1 percent in January

27 Mar | Steel News

US rebar prices mostly stable with occasional deals

27 Mar | Longs and Billet

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Iskenderun-based Turkish mill increases its rebar price      

27 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet