The local Turkish rebar market has seen a slight revival of demand today, November 26, as Turkish steel producer Kardemir opened its domestic rebar sales. The producer has closed its domestic rebar sales later on the same day after selling about 55,000 mt in total.
Meanwhile, the latest scrap deals heard in the market have indicated slight upticks in price to an average range of $300-305/mt CFR. Accordingly, the declining trend in the local rebar market has come to a halt, even if only temporarily, and sentiment in the market has shown some improvement.
As of today, November 26, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 24.11.2014 |
Marmara | 8 mm | 1,310 | 500 | - |
Marmara | 12 mm | 1,290 | 492 | - |
Iskenderun | 8 mm | 1,305 | 498 | +45 |
Iskenderun | 10 mm | 1,290 | 492 | +40 |
Iskenderun | 12 mm | 1,280 | 489 | +40 |
Izmir | 8 mm | 1,300 | 496 | - |
Izmir | 10 mm | 1,290 | 492 | - |
Izmir | 12 mm | 1,280 | 489 | - |
Karabuk | 8 mm | 1,295 | 494 | -10 |
Karabuk | 12 mm | 1,275 | 487 | -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 2.22