Change of trend in local Turkish rebar market

Thursday, 14 September 2017 16:41:07 (GMT+3)   |   Istanbul
       

Demand in the local Turkish rebar market has remained stable during the past week and is still at low levels.  Buyers in the local Turkish rebar market have maintained a cautious stance as regards new purchases amid lower import scrap prices in the deals concluded this week in Turkey as well as the depreciation of the Turkish lira against the US dollar and also due to the fluctuating trend seen in Chinese steel market.  

On the other hand, with Turkish lira depreciating to TRY 3.46 to the US dollar today, Turkish steel producer Icdas announced a TRY 30/mt increase in its domestic rebar quotations. This decision has triggered a change of trend in the local Turkish rebar market, leading domestic rebar prices to move up by TRY 10-30/mt compared to September 11, except in Turkey’s Iskenderun region. In Iskenderun, following the TRY 20/mt decline recorded in domestic rebar quotations on September 11-13, prices moved up by TRY 10/mt today and are now TRY 10/mt lower compared to the price levels mentioned in SteelOrbis’ report on September 11.

As of today, September 14, 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)

11.09.2017

11.09.2017

Marmara

8 mm

1,949

563

25

↓ 

1

Marmara

12 mm

1,932

558

25

↓ 

1

Iskenderun

8 mm

1,924

556

↓ 

8

↓ 

11

Iskenderun

10 mm

1,915

554

↓ 

9

↓ 

10

Iskenderun

12 mm

1,907

551

↓ 

8

↓ 

11

Izmir

8 mm

1,932

558

8

↓ 

6

Izmir

10 mm

1,924

556

9

↓ 

6

Izmir

12 mm

1,915

554

8

↓ 

5

Karabuk

8 mm

1,949

563

17

↓ 

4

Karabuk

12 mm

1,932

558

17

↓ 

4

All prices are ex-warehouse and on actual weight basis and exclude VAT.

$1 = TRY 3.46


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