Market sources state that a total of 120,000 members of five different construction company federations in Turkey have reacted to the ongoing tightness of supply in the local Turkish rebar market as well as to the sharp rises seen in domestic rebar prices, requesting a corrective measure from the Turkish authorities and indicating that they may call for a work stoppage as of June 9.
Under these circumstances, buyers in the local Turkish rebar market are seen to be postponing their purchases and prefer to just observe the market due to the possibility that measures will be taken by the relevant authorities. Meanwhile, domestic rebar prices in Turkey have remained stable since May 25, though prices on US dollar basis in the overall domestic market have moved down by $1-2/mt due to the fluctuation of the exchange rate.
As of today, May 29, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) | Price changes ($/mt) | ||
25.05.2017 | 25.05.2017 | ||||||
Marmara | 8 mm | 1,822 | 509 | 0 | ↓ | 1 | |
Marmara | 12 mm | 1,805 | 504 | 0 | ↓ | 2 | |
Iskenderun | 8 mm | 1,788 | 499 | 0 | ↓ | 2 | |
Iskenderun | 10 mm | 1,780 | 497 | 0 | ↓ | 2 | |
Iskenderun | 12 mm | 1,771 | 495 | 0 | ↓ | 1 | |
Izmir | 8 mm | 1,797 | 502 | 0 | ↓ | 1 | |
Izmir | 10 mm | 1,788 | 499 | 0 | ↓ | 2 | |
Izmir | 12 mm | 1,780 | 497 | 0 | ↓ | 2 | |
Karabuk | 8 mm | 1,788 | 499 | 0 | ↓ | 2 | |
Karabuk | 12 mm | 1,771 | 495 | 0 | ↓ | 1 | |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 3.58