Higher production costs in the local Turkish rebar market resulting from the rises observed in import scrap quotations were reflected in domestic rebar prices over previous weeks. However, domestic rebar prices have made a downward start to the current week due to lower import scrap quotations and the weakness of demand. Market sources indicated that, while demand in the local Turkish rebar market had recovered slightly following the increases recorded in prices in past weeks, buyers are now postponing their rebar purchases in the light of the falling trend of scrap quotations and also due to the stability of the Turkish lira-US dollar exchange rate. As a result, demand in the local Turkish rebar market is currently at very low levels.
On the other hand, SteelOrbis has been informed that Turkish producer Icdas has announced its rebar prices today, February 18, at TRY 2,740/mt ($516/mt) ex-works, excluding VAT. Meanwhile, domestic rebar prices in Turkey have decreased by TRY 26-60/mt as compared to SteelOrbis’ report published on February 14.
As of today, February 18, traders’ rebar offers in the Turkish domestic market are as follows:
|
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) |
Price changes ($/mt) |
||
|
14.02.2019 |
14.02.2019 |
||||||
|
Marmara |
8 mm |
2,720 |
512 |
↓ |
26 |
↓ |
5 |
|
Marmara |
12 mm |
2,703 |
509 |
↓ |
26 |
↓ |
5 |
|
Iskenderun |
8 mm |
2,737 |
515 |
↓ |
60 |
↓ |
12 |
|
Iskenderun |
10 mm |
2,725 |
513 |
↓ |
59 |
↓ |
11 |
|
Iskenderun |
12 mm |
2,712 |
511 |
↓ |
59 |
↓ |
11 |
|
Izmir |
8 mm |
2,686 |
506 |
↓ |
43 |
↓ |
8 |
|
Izmir |
10 mm |
2,678 |
504 |
↓ |
42 |
↓ |
8 |
|
Izmir |
12 mm |
2,669 |
503 |
↓ |
43 |
↓ |
8 |
|
Karabuk |
8 mm |
2,703 |
509 |
↓ |
34 |
↓ |
6 |
|
Karabuk |
12 mm |
2,686 |
506 |
↓ |
34 |
↓ |
6 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 5.31