Demand in the local Turkish rebar market has remained weak ahead of the referendum to be held on Sunday, April 16.
Despite the weakness of demand, domestic rebar prices in Turkey remained stable at the beginning of the current week. While the sideways movement of domestic rebar quotations had been supported by the lack of any significant change in the Turkish lira-US dollar exchange rate, the tight availability of some products had also contributed to the stable trend of domestic rebar prices in Turkey.
However, since SteelOrbis' last report on April 10, the Turkish lira has appreciated slightly against the US dollar, causing domestic rebar prices to be revised downwards despite the ongoing weakness of demand. As a result, domestic rebar prices in Turkey have fallen by TRY 10-50/mt since April 10.
As of today, April 13, 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) | ||
10.04.2017 | 10.04.2017 | ||||||
Marmara | 8 mm | 1,669 | 457 | ↓ | 17 | ↑ | 5 |
Marmara | 12 mm | 1,653 | 453 | ↓ | 16 | ↑ | 5 |
Iskenderun | 8 mm | 1,619 | 443 | ↓ | 42 | ↓ | 2 |
Iskenderun | 10 mm | 1,610 | 441 | ↓ | 43 | ↓ | 2 |
Iskenderun | 12 mm | 1,602 | 439 | ↓ | 42 | ↓ | 2 |
Izmir | 8 mm | 1,653 | 453 | ↓ | 8 | ↑ | 8 |
Izmir | 10 mm | 1,644 | 450 | ↓ | 9 | ↑ | 7 |
Izmir | 12 mm | 1,636 | 448 | ↓ | 8 | ↑ | 7 |
Karabuk | 8 mm | 1,653 | 453 | ↓ | 25 | ↑ | 3 |
Karabuk | 12 mm | 1,636 | 448 | ↓ | 25 | ↑ | 3 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 3.65