Market sources report that transaction activity in the local Turkish rebar market has remained on the low side and that traders are revising their prices downward amid weak demand, while Turkish steelmakers are facing difficulties in maintaining their current price levels. Turkish mills' rebar offers for the domestic market are in the range of TRY 1,186-1,225/mt ($559-578/mt) ex-works, excluding 18 percent VAT.
Meanwhile, local steelmaker Kardemir has received demand for about 6,500 mt of rebar in total so far for its domestic sales opened on June 25.
As of today, July 1, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 23.06.2014 |
Marmara | 8 mm | 1,440 | 576 | 0 |
Marmara | 12 mm | 1,420 | 568 | 0 |
Iskenderun | 8 mm | 1,395 | 558 | -40 |
Iskenderun | 10 mm | 1,380 | 552 | -40 |
Iskenderun | 12 mm | 1,370 | 548 | -40 |
Izmir | 8 mm | 1,410 | 564 | -15 |
Izmir | 10 mm | 1,400 | 560 | -15 |
Izmir | 12 mm | 1,390 | 556 | -15 |
Karabuk | 8 mm | 1,420 | 568 | -10 |
Karabuk | 12 mm | 1,400 | 560 | -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 2.12