SteelOrbis has been informed that, rebar prices in the local Turkish market have been revised upwards due to uptrending scrap and billet prices, while transaction activity in the market has made a slow start in the current week.
Market sources state that demand situation in the market is not clear yet, since the week has just started, while they believe new price levels will gain acceptance in the coming days. However, considering the supply-demand equilibrium in the market, higher price levels than the current range is difficult to gain acceptance given the market conditions. Meanwhile, producers' rebar offers are at TRY 1,227-1,237/mt ($576-581/mt) ex-mill, excluding 18 percent VAT.
As of today, August 4, traders' rebar offers in the Turkish domestic market are as follows:
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) 24.7.2014 |
Marmara |
8 mm |
1.460 |
581 |
+5 |
Marmara |
12 mm |
1.440 |
573 |
+5 |
Iskenderun |
8 mm |
1.445 |
575 |
+20 |
Iskenderun |
10 mm |
1.430 |
569 |
+20 |
Iskenderun |
12 mm |
1.420 |
565 |
+20 |
Izmir |
8 mm |
1.450 |
577 |
+20 |
Izmir |
10 mm |
1.440 |
573 |
+20 |
Izmir |
12 mm |
1.430 |
569 |
+20 |
Karabuk |
8 mm |
1.450 |
577 |
+10 |
Karabuk |
12 mm |
1.430 |
569 |
+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 2.13