With the US dollar gaining strength against the Turkish lira once again, rebar prices in the Turkish spot market have started the current week with slight upward revisions. Last week, after Turkish steel producer Kardemir opened its local rebar sales on February 18 and closed its sales on the same day after attracting orders for large volumes, the Turkish spot market also revived and some end-users concluded various transactions considering the possibility that rebar prices were approaching bottom levels. In the first day of the current week, this revival of activity was replaced by a slower trend.
Meanwhile, currently Turkish producers' prices for the local market are generally in the range of TRY 1,085-1,110/mt ($438-448/mt) ex-works, excluding VAT.
As of today, February 23, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) |
19.02.2015 | ||||
Marmara | 8 mm | 1,102 | 444 | +10 |
Marmara | 12 mm | 1,085 | 437 | +10 |
Iskenderun | 8 mm | 1,076 | 434 | +10 |
Iskenderun | 10 mm | 1,068 | 431 | +10 |
Iskenderun | 12 mm | 1,059 | 427 | +10 |
Izmir | 8 mm | 1,093 | 441 | - |
Izmir | 10 mm | 1,081 | 436 | - |
Izmir | 12 mm | 1,072 | 432 | - |
Karabuk | 8 mm | 1,093 | 441 | +10 |
Karabuk | 12 mm | 1,076 | 434 | +10 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 2.48