On Friday, December 2, transaction activity in the local Turkish rebar market stagnated due to the Turkish lira dropping to a new record low against the US dollar. As a result, Turkish steel producers increased their domestic rebar quotations on the day in question.
However, domestic rebar prices have softened slightly today, December 5, compared to price levels recorded on Friday after the Turkish lira regained some strength against the US dollar and due to the ongoing weakness of demand. On the other hand, current domestic rebar quotations on Turkish lira basis - except for prices in Turkey's Karabuk region - are slightly higher than the levels reported by SteelOrbis on December 1. Meanwhile, domestic rebar prices in Turkey on US dollar basis have fallen by $3-9mt due to the fluctuation of the exchange rate.
As of today, December 5, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) | Price changes ($/mt) | ||
01.12.2016 | 01.12.2016 | ||||||
Marmara | 8 mm | 1,517 | 429 | ↑ | 9 | ↓ | 6 |
Marmara | 12 mm | 1,500 | 424 | ↑ | 8 | ↓ | 6 |
Iskenderun | 8 mm | 1,466 | 414 | ↑ | 17 | ↓ | 4 |
Iskenderun | 10 mm | 1,458 | 412 | ↑ | 17 | ↓ | 3 |
Iskenderun | 12 mm | 1,449 | 409 | ↑ | 17 | ↓ | 4 |
Izmir | 8 mm | 1,475 | 417 | ↑ | 9 | ↓ | 6 |
Izmir | 10 mm | 1,466 | 414 | ↑ | 8 | ↓ | 6 |
Izmir | 12 mm | 1,458 | 412 | ↑ | 9 | ↓ | 6 |
Karabuk | 8 mm | 1,466 | 414 | 0 | ↓ | 9 | |
Karabuk | 12 mm | 1,449 | 409 | 0 | ↓ | 9 | |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 3.54