Domestic rebar prices decrease in Turkey

Monday, 13 May 2019 16:54:07 (GMT+3)   |   Istanbul
       

The sharp fall recorded in Turkey’s import scrap purchasing prices as well as the fluctuating trend of the Turkish lira-US dollar exchange rate have caused buyers in the local Turkish rebar market to be reluctant to conclude new deals as the current week begins. Meanwhile, the sluggishness in the Turkish construction sector continues to have an impact amid political uncertainties, economic problems and Ramadan. Demand in the local Turkish rebar market has continued to be characterized by weakness since end-users are still concluding deals only to meet their daily needs as they seek to avoid carrying large inventories. SteelOrbis has been informed that some traders may accept lower than spot market prices to avoid cash flow problems.

Today, May 13, Turkish mill Icdas has decreased its 12-32 mm rebar prices by TRY 80/mt to TRY 2,860/mt ($468/mt) ex-works, while Izmir Demir Celik has reduced its 12-32 mm rebar prices by TRY 85/mt to TRY 2,881/mt ($472/mt) ex-works, both excluding VAT.

As of today, rebar offers in the Turkish spot market are as follows:

Region

Dimension

Price (TRY/mt)

Price ($/mt)

Price changes (TRY/mt)

Price changes ($/mt)

10.05.2019

10.05.2019

Marmara

8 mm

2,898

474

9

3

Marmara

12 mm

2,881

472

9

3

Iskenderun

8 mm

2,805

459

17

4

Iskenderun

10 mm

2,792

457

17

4

Iskenderun

12 mm

2,780

455

17

4

Izmir

8 mm

2,864

469

26

6

Izmir

10 mm

2,856

467

25

6

Izmir

12 mm

2,847

466

26

6

Karabuk

8 mm

2,856

467

25

6

Karabuk

12 mm

2,839

465

25

5

 

All prices are ex-warehouse and on actual weight basis and exclude 18 percent VAT.

$1 = TRY 6.11

 


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