With the current week having started with rises in steel mills’ domestic rebar prices, it is observed that spot rebar quotations in Turkey have moved up sharply in the following days. Market sources state that the rapid rise recorded in the local Turkish rebar market has been the result of the depreciation of the Turkish lira against the US dollar. SteelOrbis has been informed that demand in the local Turkish rebar market is still at low levels, while buyers are still postponing their domestic rebar purchases. Demand in the local Turkish rebar market is not expected to improve in the short term due both to Ramadan and the snap elections to be held on June 24.
As of today, May 17, 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) |
||
|
14.05.2018 |
14.05.2018 |
||||||
|
Marmara |
8 mm |
2,534 |
571 |
↑ |
85 |
↑ |
4 |
|
Marmara |
12 mm |
2,517 |
567 |
↑ |
85 |
↑ |
4 |
|
Iskenderun |
8 mm |
2,483 |
559 |
↑ |
42 |
↓ |
6 |
|
Iskenderun |
10 mm |
2,470 |
556 |
↑ |
42 |
↓ |
6 |
|
Iskenderun |
12 mm |
2,458 |
554 |
↑ |
43 |
↓ |
5 |
|
Izmir |
8 mm |
2,500 |
563 |
↑ |
51 |
↓ |
4 |
|
Izmir |
10 mm |
2,492 |
561 |
↑ |
51 |
↓ |
4 |
|
Izmir |
12 mm |
2,483 |
559 |
↑ |
51 |
↓ |
4 |
|
Karabuk |
8 mm |
2,483 |
559 |
↑ |
34 |
↓ |
8 |
|
Karabuk |
12 mm |
2,466 |
555 |
↑ |
34 |
↓ |
8 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 4.44