Following the announcement of the Turkish Central Bank of its decision to hold interest rates steady, the US dollar has appreciated against the Turkish lira, which now stands at 2.26 to the dollar. In light of this development, Turkish rebar traders have had to adjust their local offers and increased their prices. In addition, availability shortages for some sizes especially in the Iskenderun and Karabuk regions of the country have supported the upward price revision.
Meanwhile, Turkish steelmakers' rebar prices are varying in the range of TRY 1,288-1,305/mt ($570-577/mt) ex-works, exclusive of VAT, while it is reported that there has been no demand for Kardemir's domestic rebar sales which were opened on September 24.
As of today, September 26, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 24.9.2014 |
Marmara | 8 mm | 1,540 | 577 | +10 |
Marmara | 12 mm | 1,520 | 570 | +10 |
Iskenderun | 8 mm | 1,530 | 574 | +10 |
Iskenderun | 10 mm | 1,515 | 568 | +10 |
Iskenderun | 12 mm | 1,505 | 564 | +10 |
Izmir | 8 mm | 1,515 | 568 | +10 |
Izmir | 10 mm | 1,505 | 564 | +10 |
Izmir | 12 mm | 1,495 | 561 | +10 |
Karabuk | 8 mm | 1,530 | 574 | +10 |
Karabuk | 12 mm | 1,510 | 566 | +10 |
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 2.26