At the start of the current week, buyers in the local Turkish rebar market have continued to postpone their bookings, expecting a further decrease in prices as the downtrend of scrap prices continues, having gained momentum as of the start of the third week of January. Today, some Turkish mills have revised their rebar prices downwards for their domestic market due to the declines in global scrap prices and also due to the weakness of demand, while the Turkish lira has recovered some of its strength against the US dollar. As a result, domestic rebar prices in Turkey have moved down by TRY 8-51/mt compared to the price levels recorded on January 26. Besides the abovementioned factors, demand in the local Turkish rebar market is not expected to recover in the short term amid ongoing political uncertainties and harsh winter conditions in some regions in Turkey.
As of today, January 30, 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) | ||
| 26.01.2017 | 26.01.2017 | ||||||
| Marmara | 8 mm | 1,517 | 393 | ↓ | 51 | ↓ | 12 |
| Marmara | 12 mm | 1,500 | 389 | ↓ | 51 | ↓ | 12 |
| Iskenderun | 8 mm | 1,441 | 373 | ↓ | 8 | ↓ | 1 |
| Iskenderun | 10 mm | 1,432 | 371 | ↓ | 9 | ↓ | 1 |
| Iskenderun | 12 mm | 1,424 | 369 | ↓ | 8 | ↓ | 1 |
| Izmir | 8 mm | 1,479 | 383 | ↓ | 21 | ↓ | 5 |
| Izmir | 10 mm | 1,470 | 381 | ↓ | 22 | ↓ | 4 |
| Izmir | 12 mm | 1,462 | 379 | ↓ | 21 | ↓ | 4 |
| Karabuk | 8 mm | 1,466 | 380 | ↓ | 51 | ↓ | 12 |
| Karabuk | 12 mm | 1,449 | 375 | ↓ | 51 | ↓ | 13 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 3.86