According to market sources, the Turkish rebar market has been quiet since our last report on July 1, with transaction activity on the weak side. Tightness of availability has been reported in the Marmara region this week, but even this has not had a positive impact on prices as demand in the market is very low.
Market sources state that Turkish mills are trying to keep their rebar offers at current levels but their profit margins are very tight due to raw material costs. Also, it is reported that Turkish mills have started to reduce their production capacity utilization rates. Meanwhile, Turkish mills' rebar offers for the domestic market are in the range of TRY 1,186-1,225/mt ex-works, excluding VAT.
As of today, July 3, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 01.07.2014 |
Marmara | 8 mm | 1,435 | 568 | -5 |
Marmara | 12 mm | 1,415 | 560 | -5 |
Iskenderun | 8 mm | 1,395 | 552 | 0 |
Iskenderun | 10 mm | 1,380 | 546 | 0 |
Iskenderun | 12 mm | 1,370 | 543 | 0 |
Izmir | 8 mm | 1,410 | 558 | 0 |
Izmir | 10 mm | 1,400 | 554 | 0 |
Izmir | 12 mm | 1,390 | 550 | 0 |
Karabuk | 8 mm | 1,420 | 562 | 0 |
Karabuk | 12 mm | 1,400 | 554 | 0 |
All prices are ex-warehouse and on actual weight basis. The TRY prices include 18 percent VAT, while the US$ prices exclude VAT.
$1 = TRY 2.14