Market players indicate that rebar prices in the local Turkish market have been revised downward as compared to early this week. With only a few days left to go before the Ramadan holiday (July 28-30), rebar demand in the local spot market has remained limited, while traders have chosen to reduce their prices in order to attract increased demand. After the holiday, demand in the local finished steel market is expected to recover, which will help domestic prices to move up. However, this week will likely end with prices at their current levels.
As of today, July 24, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 21.7.2014 |
Marmara | 8 mm | 1,455 | 590 | -10 |
Marmara | 12 mm | 1,435 | 582 | -10 |
Iskenderun | 8 mm | 1,425 | 578 | 0 |
Iskenderun | 10 mm | 1,410 | 572 | 0 |
Iskenderun | 12 mm | 1,400 | 568 | 0 |
Izmir | 8 mm | 1,430 | 580 | -10 |
Izmir | 10 mm | 1,420 | 576 | -10 |
Izmir | 12 mm | 1,410 | 572 | -10 |
Karabuk | 8 mm | 1,440 | 584 | -15 |
Karabuk | 12 mm | 1,420 | 576 | -15 |
All prices are ex-warehouse and on actual weight basis. The TRY prices include 18 percent VAT, while the US$ prices exclude VAT.
$1 = TRY 2.09