Since last week, the declining price trend in the local Turkish steel market has come to a halt and expectations for an upward trend have started to prevail in the market. Rebar prices in the Turkish spot market have increased on the back of rising import scrap offers to Turkey, high-priced scrap transactions concluded in the local market, and with the Turkish lira weakening against the US dollar. The rise in rebar prices has not impacted on the demand of end-users, while some traders are reportedly restocking ahead of a possible upward trend in prices. Market sources state that sales activity in the local Turkish rebar spot market is at decent levels, while the market is not completely convinced by the rise in prices and so buyers are still maintaining a cautious stance.
As of today, March 2, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) |
26.02.2015 | ||||
Marmara | 8 mm | 1,127 | 449 | +30 |
Marmara | 12 mm | 1,110 | 442 | +30 |
Iskenderun | 8 mm | 1,102 | 439 | +40 |
Iskenderun | 10 mm | 1,093 | 436 | +40 |
Iskenderun | 12 mm | 1,085 | 432 | +40 |
Izmir | 8 mm | 1,123 | 447 | +25 |
Izmir | 10 mm | 1,110 | 442 | +25 |
Izmir | 12 mm | 1,102 | 439 | +25 |
Karabuk | 8 mm | 1,119 | 446 | +40 |
Karabuk | 8 mm | 1,127 | 449 | +30 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 2.51