According to market sources, transaction activity in the Turkish domestic rebar market is still weak. Demand in the market has been sluggish with the approach of Ramadan and amid expectations that raw material prices will trend downwards. The Turkish lira has been fluctuating against the US dollar due to the threat of civil war in Iraq, while buyers have been maintaining a cautious stance. On the other hand, market sources report that local buyers in the Turkish market are waiting to hear the next monetary policy decision from the US Federal Reserve before concluding new transactions.
Traders are expected to purchase only in line with their needs in the Turkish domestic rebar market as negative sentiment and uncertainties prevail in the market.
As of today, June 18, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 16.06.2014 |
Marmara | 8 mm | 1,455 | 576 | 0 |
Marmara | 12 mm | 1,435 | 568 | 0 |
Iskenderun | 8 mm | 1,435 | 568 | 0 |
Iskenderun | 10 mm | 1,420 | 562 | 0 |
Iskenderun | 12 mm | 1,410 | 558 | 0 |
Izmir | 8 mm | 1,435 | 568 | 0 |
Izmir | 10 mm | 1,420 | 562 | 0 |
Izmir | 12 mm | 1,410 | 558 | 0 |
Karabuk | 8 mm | 1,435 | 568 | -5 |
Karabuk | 12 mm | 1,415 | 560 | -5 |
All prices are ex-warehouse and on actual weight basis. The TRY prices include 18 percent VAT, while the US$ prices exclude VAT.
$1 = TRY 2.14