According to market sources, demand in the Turkish rebar spot market is slack ahead of the general election to be held on June 7. However, contrary to the general trend of the market, demand has increased in Turkey's Izmir region due to an agreement with Azerbaijan's state-run oil company SOCAR to build a petroleum refinery in the region and so local rebar prices in the area have increased.
As of today, May 25, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) |
21.05.2015 | ||||
Marmara | 8 mm | 1,271 | 485 | 0 |
Marmara | 12 mm | 1,254 | 479 | 0 |
Iskenderun | 8 mm | 1,254 | 479 | -10 |
Iskenderun | 10 mm | 1,246 | 475 | -10 |
Iskenderun | 12 mm | 1,237 | 472 | -10 |
Izmir | 8 mm | 1,258 | 480 | +10 |
Izmir | 10 mm | 1,246 | 475 | +10 |
Izmir | 12 mm | 1,237 | 472 | +10 |
Karabuk | 8 mm | 1,267 | 484 | -5 |
Karabuk | 8 mm | 1,250 | 477 | -5 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 2.62