Demand in the local Turkish rebar market has remained weak since August 1, while domestic rebar prices in all regions of Turkey have moved up in the same period. However, as of today, August 4, traders are unwilling to give offers to the market as they believe domestic rebar prices in Turkey will continue their upward trend in the coming period since rises seen in Chinese billet quotations are expected to support an increase in global long steel prices.
Meanwhile, demand from Turkish steel mills for import scrap was very strong last week and so the mills concluded plenty of new import scrap bookings. But the rises recorded in import scrap quotations have not yet been reflected in domestic rebar prices in Turkey. Also, Turkish steel producer Kardemir has closed its domestic rebar sales today, August 4, after selling about 36,000 mt of rebar in total. The mill had opened its rebar sales on July 28 at the level of TRY 1,170/mt ($387/mt) ex-works, excluding VAT.
As of today, August 4, traders' rebar offers in the Turkish domestic market are as follows:
| Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) | Price changes ($/mt) | ||
| 28.07.2016 | 28.07.2016 | ||||||
| Marmara | 8 mm | 1,220 | 404 | ↑ | 17 | ↑ | 3 |
| Marmara | 12 mm | 1,203 | 398 | ↑ | 17 | ↑ | 3 |
| Iskenderun | 8 mm | 1,178 | 390 | ↑ | 17 | ↑ | 3 |
| Iskenderun | 10 mm | 1,169 | 387 | ↑ | 25 | ↑ | 6 |
| Iskenderun | 12 mm | 1,161 | 384 | ↑ | 25 | ↑ | 5 |
| Izmir | 8 mm | 1,195 | 396 | ↑ | 26 | ↑ | 6 |
| Izmir | 10 mm | 1,186 | 393 | ↑ | 25 | ↑ | 6 |
| Izmir | 12 mm | 1,178 | 390 | ↑ | 25 | ↑ | 6 |
| Karabuk | 8 mm | 1,195 | 396 | ↑ | 17 | ↑ | 3 |
| Karabuk | 12 mm | 1,178 | 390 | ↑ | 17 | ↑ | 3 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 3.02