Halil Şahin, president of the Aegean Iron and Non-ferrous Metals Exporters' Association and CEO of Turkish rebar producer Izmir Demir Çelik Sanayi A.S. (IDC), has expressed his view about the rising prices in the Turkish iron and steel industry.
Accordingly, Mr. Şahin said that the rising exchange rate has been reflected in a 20 percent increase in rebar prices, with overall rebar prices in the market being at $710/mt excluding VAT. The high rebar prices in the Turkish market are due to the exchange rate, he said.
Şahin also mentioned that rebar prices have a 8-10 percent share in construction costs. Rebar demand, which is not very high in Turkey, is unable to influence rebar prices, according to Mr Şahin.