The US dollar has gained strength against the Turkish lira and increased to 2.28 TRY to a dollar after the announcement of the unemployment rate in the US which was below expectations. The stronger dollar has also had an impact on the local Turkish rebar market at the start of the week. Turkish traders have accordingly revised their prices upwards today, December 8, even though demand in the local Turkish spot market has not improved.
On the other hand, due to the same reason, Turkish producer Icdas has also revised its local rebar prices upwards.
As of today, December 8, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 5.12.2014 |
Marmara | 8 mm | 1,350 | 504 | +40 |
Marmara | 12 mm | 1,330 | 497 | +40 |
Iskenderun | 8 mm | 1,330 | 497 | +45 |
Iskenderun | 10 mm | 1,320 | 493 | +45 |
Iskenderun | 12 mm | 1,310 | 489 | +45 |
Izmir | 8 mm | 1,345 | 502 | +30 |
Izmir | 10 mm | 1,330 | 497 | +25 |
Izmir | 12 mm | 1,320 | 493 | +25 |
Karabuk | 8 mm | 1,330 | 497 | +30 |
Karabuk | 12 mm | 1,310 | 489 | +30 |
All prices are ex-warehouse and on actual weight basis. The TRY prices include 18 percent VAT, while the US$ prices exclude VAT.
$1 = TRY 2.27