Demand in local Turkish rebar market improves slightly

At the beginning of October, traders' prices in the local Turkish rebar market had started to move up with the influence of the rises seen in scrap and billet quotations, with demand first increasing slightly and then starting to move back to low levels. In the current week, domestic rebar prices in Turkey have increased further due to the sharp rises recorded in scrap and billet quotations. As a result, buyers are convinced that domestic rebar prices will continue to rise in the coming days. Accordingly, demand has improved slightly in the current week, though remaining at low levels.
 
Today, October 27, SteelOrbis has been informed that Turkish producer Icdas' 12-32 mm rebar prices in Turkey's Marmara region are now at TRY 1,271/mt ($410/mt) + VAT ex-works, while its rebar prices in Biga, Canakkale in northwestern Turkey are at TRY 1,254/mt ($405/mt) + VAT ex-works. The mill's list prices have moved up by TRY 25/mt + VAT as compared to its previous price list issued on October 24, while due to currency fluctuations prices have increased by $4-5/mt on US dollar basis.

Additionally, as per its new price list dated October 27, Turkish steel producer Bastug Metalurji has revised its domestic rebar prices. Accordingly, Bastug Metalurji's domestic rebar quotations for 12-32 mm rebar are at TRY 1,263/mt ($407/mt), for 10 mm rebar are at TRY 1,271/mt ($410/mt) and for 8 mm rebar are at TRY 1,280/mt ($413/mt), all ex-works and excluding VAT.
 
 
As of today, October 27, traders' rebar offers in the Turkish domestic market are as follows:

All prices are ex-warehouse and on actual weight basis and exclude VAT.
 
$1 = TRY 3.10