Tight availability in local Turkish rebar market

Prices in the local Turkish rebar spot market have increased since February 4, except in the Istanbul region where prices have declined. Since the Turkish lira has once again lost strength against the dollar to 2.95 today, February 8, market players have increased their domestic rebar prices. After SteelOrbis' report last week which indicated that some producers in the Iskenderun region had begun maintenance works at their mills, tightness of supply has been seen in some products, supporting the upward movement of local rebar prices.
 
On the other hand, SteelOrbis has been informed that Turkish producer Icdas has reduced its rebar prices on February 8. Icdas' 12-32 mm rebar prices in Turkey's Marmara region are now at TRY 983/mt ($333/mt) + VAT ex-works, while its rebar prices in Biga, Canakkale in northwestern Turkey are at TRY 966/mt ($327/mt) + VAT ex-works. After the Turkish producer's announcement domestic rebar prices in Istanbul have moved downwards. Meanwhile, domestic producer Kardemir has opened its sales for S235JR grade billets at the level of $282/mt ex-works and for MT III-A grade billets at $287/mt ex-works, both excluding VAT. Compared to the price list issued on January 19, the producer has increased its billet prices by $7/mt. However, buyers state that the prices in question are unacceptable.
 
As of today, February 8, traders' rebar offers in the Turkish domestic market are as follows:

All prices are ex-warehouse and on actual weight basis and exclude VAT.
 
$1 = TRY 2.95