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