Rebar spot prices in the Turkish domestic market have been revised downward as demand has failed to indicate a recovery. Meanwhile, Kardemir is expected to open its domestic sales for rebar and billet in the coming week with a reduction in its prices, following the price adjustment made by local mill Icdas early this week.
Kardemir's most recent rebar sales were opened at TRY 1,301/mt ($597/mt) ex-works, excluding VAT, on January 21, while on January 7 the mill had opened its sales for S235JR grade (St37) billets at the level of $521/mt ex-works, excluding VAT and also opened its sales for MT III-A grade billets at $526/mt ex-works, excluding VAT.
As of today, February 14, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 10.2.2014 |
Marmara | 8 mm | 1,505 | 585 | -20 |
Marmara | 12 mm | 1,485 | 577 | -20 |
Iskenderun | 8 mm | 1,480 | 575 | -5 |
Iskenderun | 10 mm | 1,470 | 571 | -5 |
Iskenderun | 12 mm | 1,460 | 568 | -5 |
Izmir | 8 mm | 1,475 | 573 | -25 |
Izmir | 10 mm | 1,460 | 568 | -25 |
Izmir | 12 mm | 1,450 | 564 | -25 |
Karabuk | 8 mm | 1,500 | 583 | -20 |
Karabuk | 12 mm | 1,480 | 575 | -20 |
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 2.18