Domestic merchant bar prices crash in Turkey

Tuesday, 24 March 2020 16:21:23 (GMT+3)   |   Istanbul
       

Local merchant bar prices in Turkey have decreased significantly over the past two weeks on US dollar basis, following the significant weakening of the Turkish lira and also the generally negative sentiment in the market. Import scrap prices have collapsed in Turkey, dragging down prices of all related commodities. The situation has been exacerbated by the spread of the virus which has consequently resulted in stalled demand and negative expectations regarding further market developments.

As a result, domestic merchant bar prices on US dollar basis in Turkey have dropped by $23-37/mt over the past two weeks depending on the region. Moreover, additional discounts are reported to be possible. Higher price levels are seen in the Izmir and Karabuk region as the producers there are not eager to become aggressive in the local market and prefer to be active in the export markets. The future price trend will depend on the situation in the import scrap segment, which is not foreseen to improve anytime soon, SteelOrbis understands.

Equal Angle Prices:  

Region

Prices (TRY/mt)

Prices ($/mt)

Price change (TRY/mt)

Price change ($/mt)

Denizli Region (30-100 mm)

3,140-3,150

481-482

+65

-23

Karabuk Region (30-100mm)

2,980-3,020

456-462

-20

-36

Iskenderun Region (30-100 mm)

2,900-2,950

444-452

-30

-37

Izmir Region (30-100 mm)

3,100-3,110

475-476

+65

-23

Flat Bar Prices: 

Region

Prices (TRY/mt)

Prices ($/mt)

Price change (TRY/mt)

Price change ($/mt)

Denizli Region (30-100 mm)

3,170-3,180

485-487

+65

-24

Karabuk Region (30-100mm)

3,010-3,050

461-467

-20

-36

Iskenderun Region (30-100 mm)

2,930-2,980

449-456

-30

-37

Izmir Region (30-100 mm)

3,130-3,140

479-481

+65

-23

NPI-NPU Prices: 

Region

Prices (TRY/mt)

Prices ($/mt)

Price change (TRY/mt)

Price change ($/mt)

Denizli Region (30-100 mm)

3,140-3,150

481-482

+65

-23

Karabuk Region (30-100 mm)

2,980-3,020

456-462

-20

-36

Iskenderun Region (30-100 mm)

2,900-2,950

444-452

-30

-37

Izmir Region (30-50 mm)

3,100-3,110

475-476

+65

-23

The above prices exclude 18 percent VAT, are on ex-works basis and for cash payment. Price changes in the tables above are calculated as compared to Monday, March 9. 

$1 = 6.53 TRY


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