The Turkish rebar spot market has continued to move on a downward trend. Market players in the local Turkish rebar market are concerned amid declining scrap prices and weak demand, and so pessimistic sentiment has prevailed in the market over the past week. These circumstances have increased the downward pressure on spot prices in the local market, while suppliers are also finding it difficult to decide on their price levels amid the upward pressure caused by the significant strengthening of the US dollar against the Turkish lira.
Meanwhile, a Turkish producer continues to give offers below its list prices at around TRY 1,186/mt ($494/mt) ex-works, excluding VAT.
As of today, January 29, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) |
26.1.2015 | ||||
Marmara | 8 mm | 1,370 | 484 | -20 |
Marmara | 12 mm | 1,350 | 477 | -10 |
Iskenderun | 8 mm | 1,320 | 466 | -15 |
Iskenderun | 10 mm | 1,310 | 463 | -15 |
Iskenderun | 12 mm | 1,300 | 459 | -15 |
Izmir | 8 mm | 1,355 | 478 | - |
Izmir | 10 mm | 1,340 | 473 | - |
Izmir | 12 mm | 1,330 | 470 | - |
Karabuk | 8 mm | 1,360 | 480 | -10 |
Karabuk | 12 mm | 1,340 | 473 | -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 2.40