Demand for rebar in the local Turkish market had significantly declined in previous weeks due to the fluctuations seen in the Turkish lira-US dollar exchange rate, with the Turkish lira mostly losing strength against the dollar. On Friday, December 2, transaction activity in the local Turkish rebar market stagnated as the Turkish lira dropped to a new record low against the US dollar.
Meanwhile, domestic rebar prices have declined by TRY 50-90/mt during the past week as the Turkish lira started to gain strength against the US dollar at the beginning of the current week and also due to the ongoing weakness of demand. The ongoing gradual downward movement of Turkish traders' domestic rebar prices recorded since the beginning of the current week has contributed to Turkish buyers' decision to postpone their rebar purchases. Meanwhile, domestic rebar prices in Turkey on US dollar basis have indicated diverse trends due to the fluctuation of the exchange rate.
As of today, December 8, 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) | ||
05.12.2016 | 05.12.2016 | ||||||
Marmara | 8 mm | 1,441 | 422 | ↓ | 76 | ↓ | 7 |
Marmara | 12 mm | 1,424 | 418 | ↓ | 76 | ↓ | 6 |
Iskenderun | 8 mm | 1,424 | 418 | ↓ | 42 | ↑ | 4 |
Iskenderun | 10 mm | 1,415 | 415 | ↓ | 43 | ↑ | 3 |
Iskenderun | 12 mm | 1,407 | 413 | ↓ | 42 | ↑ | 4 |
Izmir | 8 mm | 1,432 | 420 | ↓ | 43 | ↑ | 3 |
Izmir | 10 mm | 1,424 | 418 | ↓ | 42 | ↑ | 4 |
Izmir | 12 mm | 1,415 | 415 | ↓ | 43 | ↑ | 3 |
Karabuk | 8 mm | 1,424 | 418 | ↓ | 42 | ↑ | 4 |
Karabuk | 12 mm | 1,407 | 413 | ↓ | 42 | ↑ | 4 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 3.41