Domestic producers in the local Turkish rebar market revised their domestic prices today, March 20, reducing them by TRY 70-80/mt amid the weakness of demand and due to the appreciation of the Turkish lira against the US dollar.
It is observed that traders in the local Turkish rebar market have also reduced their domestic rebar quotations, decreasing them by TRY 30-50/mt compared to price levels recorded on March 16 due to the same reasons as well as the revision in producers' rebar quotations. Meanwhile, buyers have postponed their domestic rebar purchases with the expectation of a further decline in prices against the backdrop of the lower import scrap quotation recorded in most recent deals. As a result, demand which was already at low levels has declined further over the past week.
As of today, March 20, 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) |
||
16.03.2017 |
16.03.2017 |
||||||
Marmara |
8 mm |
1,653 |
455 |
↓ |
42 |
↓ |
11 |
Marmara |
12 mm |
1,636 |
451 |
↓ |
42 |
↓ |
10 |
Iskenderun |
8 mm |
1,627 |
448 |
↓ |
42 |
↓ |
11 |
Iskenderun |
10 mm |
1,619 |
446 |
↓ |
42 |
↓ |
10 |
Iskenderun |
12 mm |
1,610 |
444 |
↓ |
43 |
↓ |
10 |
Izmir |
8 mm |
1,644 |
453 |
↓ |
25 |
↓ |
6 |
Izmir |
10 mm |
1,636 |
451 |
↓ |
25 |
↓ |
5 |
Izmir |
12 mm |
1,627 |
448 |
↓ |
26 |
↓ |
6 |
Karabuk |
8 mm |
1,636 |
451 |
↓ |
25 |
↓ |
5 |
Karabuk |
12 mm |
1,619 |
446 |
↓ |
25 |
↓ |
6 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 3.63