The unease and uncertainty in the Turkish rebar spot market have increased amid the ongoing rise in strength of the US dollar against the Turkish lira to all-time historical levels. Besides the upward trend of import scrap offers to Turkey, the steadily rising trend of the US dollar has caused traders in the local rebar spot market to revise their prices upwards. Meanwhile, no genuine improvement has been recorded in local demand, while the recent uptick in transaction activity has been interpreted as a precaution by buyers against a further increase in rebar prices. Moreover, market players find it difficult to predict the future trend of the market due to sharp changes in the US dollar-Turkish lira exchange rate.
As of today, March 5, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) |
02.03.2015 | ||||
Marmara | 8 mm | 1,195 | 461 | +70 |
Marmara | 12 mm | 1,169 | 452 | +70 |
Iskenderun | 8 mm | 1,161 | 448 | +70 |
Iskenderun | 10 mm | 1,153 | 445 | +70 |
Iskenderun | 12 mm | 1,144 | 442 | +70 |
Izmir | 8 mm | 1,174 | 453 | +60 |
Izmir | 10 mm | 1,161 | 448 | +60 |
Izmir | 12 mm | 1,153 | 445 | +60 |
Karabuk | 8 mm | 1,161 | 448 | +50 |
Karabuk | 8 mm | 1,144 | 442 | +50 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 2.59