SteelOrbis has been informed that buyers in the local Turkish rebar market are unable to foresee the future trend of prices amid the ongoing depreciation of the Turkish lira against the US dollar, the sharp fluctuations recorded in iron ore quotations and due to the slight decline seen in scrap prices. Under these circumstances, buyers have maintained their cautious stance in the current week and are only concluding rebar purchases to meet their immediate needs. As a result, demand in the local Turkish rebar market is now at low levels. Meanwhile, domestic rebar prices in Turkey have declined by TRY 10/mt since November 28, except in the Marmara region where prices have remained unchanged on Turkish lira basis. On the other hand, domestic rebar prices in Turkey on US dollar basis have fallen by $6-9/mt due to the fluctuation of the exchange rate.
As of today, December 1, traders' rebar offers in the Turkish domestic market are as follows:
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) |
Price changes ($/mt) |
||
28.11.2016 |
28.11.2016 |
||||||
Marmara |
8 mm |
1,508 |
435 |
0 |
↓ |
6 |
|
Marmara |
12 mm |
1,492 |
430 |
0 |
↓ |
6 |
|
Iskenderun |
8 mm |
1,449 |
418 |
↓ |
9 |
↓ |
8 |
Iskenderun |
10 mm |
1,441 |
415 |
↓ |
8 |
↓ |
9 |
Iskenderun |
12 mm |
1,432 |
413 |
↓ |
9 |
↓ |
8 |
Izmir |
8 mm |
1,466 |
423 |
↓ |
9 |
↓ |
8 |
Izmir |
10 mm |
1,458 |
420 |
↓ |
8 |
↓ |
9 |
Izmir |
12 mm |
1,449 |
418 |
↓ |
9 |
↓ |
8 |
Karabuk |
8 mm |
1,466 |
423 |
↓ |
9 |
↓ |
8 |
Karabuk |
12 mm |
1,449 |
418 |
↓ |
9 |
↓ |
8 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 3.47