Having closed last week with an upward movement, prices in the local Turkish rebar market have fallen by an average of TRY 40/mt, including VAT, as compared to Friday (July 13) despite the Turkish lira losing strength against the US dollar on the first day of the current week.
On the other hand, since SteelOrbis’ report published on July 12, domestic rebar prices in Turkey’s Karabuk region have increased by TRY 8/mt, while prices in the Marmara region have decreased by TRY 34/mt and quotations in the Izmir and Iskenderun regions have moved sideways, all prices excluding VAT.
Although the trend of the Turkish lira-US dollar exchange rate observed today, July 16, would have traditionally pushed domestic rebar spot prices in Turkey upwards in a balanced market, prices have not increased due to the weakness of demand.
Meanwhile, SteelOrbis has been informed that Turkish producer Icdas has revised its domestic rebar prices in line with the movement of the exchange rate. Icdas’ 12-32 mm rebar prices in Turkey's Marmara region are now at TRY 2,653/mt ($548/mt) + VAT ex-works, while its rebar prices in Biga, Canakkale in northwestern Turkey are at TRY 2,627/mt ($543/mt) + VAT ex-works. The mill’s list prices have moved up by TRY 102/mt + VAT as compared to its previous price list issued on July 9, while due to currency fluctuations prices have declined by $11/mt on US dollar basis.
The negative influence of the ongoing volatility of the Turkish lira-US dollar exchange rate is still felt in terms of trading activity in the local Turkish rebar market, causing purchases to be made only in line with needs.
As of today, July 16, traders’ rebar offers in the Turkish domestic market are as follows:
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) |
Price changes ($/mt) |
||
12.07.2018 |
12.07.2018 |
||||||
Marmara |
8 mm |
2,669 |
552 |
↓ |
34 |
↓ |
10 |
Marmara |
12 mm |
2,653 |
548 |
↓ |
34 |
↓ |
10 |
Iskenderun |
8 mm |
2,653 |
548 |
↑ |
0 |
↓ |
3 |
Iskenderun |
10 mm |
2,631 |
544 |
↑ |
0 |
↓ |
3 |
Iskenderun |
12 mm |
2,619 |
541 |
↑ |
0 |
↓ |
3 |
Izmir |
8 mm |
2,644 |
546 |
↑ |
0 |
↓ |
3 |
Izmir |
10 mm |
2,636 |
545 |
↑ |
0 |
↓ |
3 |
Izmir |
12 mm |
2,627 |
543 |
↑ |
0 |
↓ |
3 |
Karabuk |
8 mm |
2,644 |
546 |
↑ |
8 |
↓ |
2 |
Karabuk |
12 mm |
2,627 |
543 |
↑ |
8 |
↓ |
2 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 4.84