In the current week, demand in the local Turkish rebar market has remained at low levels, while rebar prices in the domestic market have declined further in the same period amid the recent developments in Turkey's political arena, the fluctuations in the US dollar-Turkish lira exchange rate and due to the decreases seen in global billet quotations.
Meanwhile, SteelOrbis has been informed that buyers in Turkey's Marmara region have concluded purchases from Iskenderun in line with their needs as they consider rebar prices in the latter region to be more attractive this week. There are strong expectations in the local Turkish market for a further decline in domestic rebar prices and so Turkish buyers are still postponing their purchases except to meet their immediate needs.
As of today, May 12, 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) | ||
| 09.05.2016 | 09.05.2016 | ||||||
| Marmara | 8 mm | 1,415 | 478 | ↓ | 110 | ↓ | 41 |
| Marmara | 12 mm | 1,398 | 472 | ↓ | 110 | ↓ | 41 |
| Iskenderun | 8 mm | 1,314 | 444 | ↓ | 101 | ↓ | 37 |
| Iskenderun | 10 mm | 1,305 | 441 | ↓ | 102 | ↓ | 37 |
| Iskenderun | 12 mm | 1,297 | 438 | ↓ | 101 | ↓ | 38 |
| Izmir | 8 mm | 1,381 | 467 | ↓ | 77 | ↓ | 29 |
| Izmir | 10 mm | 1,373 | 464 | ↓ | 76 | ↓ | 29 |
| Izmir | 12 mm | 1,364 | 461 | ↓ | 77 | ↓ | 29 |
| Karabuk | 8 mm | 1,356 | 458 | ↓ | 93 | ↓ | 35 |
| Karabuk | 12 mm | 1,339 | 452 | ↓ | 93 | ↓ | 35 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 2.96