According to market sources, rebar prices in the local Turkish spot market have maintained their recent uptrend. Especially after the conclusion of scrap transactions at higher prices, Turkish producer Icdas closed its rebar sales and reopened them after revising its prices upwards.
Icdas' move attracted an immediate response from the market, with traders raising their prices accordingly. Under these circumstances, transaction activity in the Turkish spot market has improved slightly. Market sources state that, though demand has not revived completely yet, traders have started to buy rebar as they are concerned that prices will rise further.
As of today, December 11, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 8.12.2014 |
Marmara | 8 mm | 1,370 | 511 | +20 |
Marmara | 12 mm | 1,350 | 504 | +20 |
Iskenderun | 8 mm | 1,340 | 500 | +10 |
Iskenderun | 10 mm | 1,330 | 497 | +10 |
Iskenderun | 12 mm | 1,320 | 493 | +10 |
Izmir | 8 mm | 1,360 | 508 | +15 |
Izmir | 10 mm | 1,345 | 502 | +15 |
Izmir | 12 mm | 1,335 | 498 | +15 |
Karabuk | 8 mm | 1,350 | 504 | +20 |
Karabuk | 12 mm | 1,330 | 497 | +20 |
All prices are ex-warehouse and on actual weight basis. The TRY prices include 18 percent VAT, while the US$ prices exclude VAT.
$1 = TRY 2.27