According to market sources, prices in the Turkish domestic rebar market have continued their downtrend. In the weak demand environment, the price declines in the spot market have not ended yet, while, despite availability shortages for some materials, traders are finding it difficult to keep their prices firm. In the meantime, local mill Kardemir's domestic rebar sales, which were opened on May 8 at the price level of TRY 1,238/mt ($592/mt) ex-works, excluding VAT, have failed to attract any demand so far.
As of today, May 15, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 12.05.2014 |
Marmara | 8 mm | 1,450 | 588 | -10 |
Marmara | 12 mm | 1,430 | 580 | -10 |
Iskenderun | 8 mm | 1,460 | 592 | -15 |
Iskenderun | 10 mm | 1,445 | 586 | -15 |
Iskenderun | 12 mm | 1,435 | 582 | -15 |
Izmir | 8 mm | 1,420 | 576 | -10 |
Izmir | 10 mm | 1,410 | 572 | -10 |
Izmir | 12 mm | 1,400 | 568 | -10 |
Karabuk | 8 mm | 1,460 | 592 | -10 |
Karabuk | 12 mm | 1,440 | 584 | -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 2.09