After a short-lived market improvement early this week, sluggishness and uncertainty have continued in the Turkish domestic rebar market. Although some traders in urgent need of cash have sold some small tonnages of rebar below the current price levels, traders who had bought rebar at TRY 1,114/mt ($629/mt) and who have run out of materials bought previously at lower prices find it difficult to reduce offer prices further.
According to information collected by SteelOrbis from market sources as of July 12, rebar prices in the Turkish domestic steel market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price change (TRY/mt) 11.07.2012 |
Marmara | 8 mm | 1,370 | 638 | -5 |
Marmara | 12 mm | 1,360 | 633 | -5 |
Iskenderun | 8 mm | 1,370 | 638 | 0 |
Iskenderun | 10 mm | 1,360 | 633 | 0 |
Iskenderun | 12 mm | 1,350 | 629 | 0 |
Izmir | 8 mm | 1,345 | 626 | -5 |
Izmir | 10 mm | 1,330 | 619 | -5 |
Izmir | 12mm | 1,320 | 615 | -5 |
Karabuk | 8 mm | 1,370 | 638 | 0 |
Karabuk | 12 mm | 1,350 | 629 | 0 |
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 1.82