Prices in the Turkish domestic rebar market have been revised upward following the increased activity seen late last week. Local traders state that after the March 30 municipal elections in Turkey power supply charges will be increased, and so mills are expected to hike their prices because of increased production costs. Therefore, traders have accelerated their purchases ahead of the anticipated price increases, while traders are now also receiving greater demand.
The new week has begun with lively purchasing activity, while the tight availability in Turkey's Iskenderun and Izmir regions has also provided support for price increases. In the meantime, local mills' rebar offers are standing at TRY 1,258-1,292/mt ($562-577/mt) ex-works, excluding 18 percent VAT.
As of today, March 24, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 20.03.2014 |
Marmara | 8 mm | 1,540 | 583 | +10 |
Marmara | 12 mm | 1,520 | 575 | +10 |
Iskenderun | 8 mm | 1,535 | 581 | +15 |
Iskenderun | 10 mm | 1,525 | 577 | +15 |
Iskenderun | 12 mm | 1,515 | 573 | +15 |
Izmir | 8 mm | 1,525 | 577 | +10 |
Izmir | 10 mm | 1,510 | 571 | +10 |
Izmir | 12 mm | 1,500 | 567 | +10 |
Karabuk | 8 mm | 1,515 | 573 | +10 |
Karabuk | 12 mm | 1,495 | 566 | +10 |
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 2.24