Demand in the local Turkish rebar market has continued to be characterized by weakness in the new year. Despite falling import scrap quotations, Turkish rebar producers are still using their scrap stocks bought previously at higher price levels, and, with the influence of the sharp depreciation of the Turkish lira against the US dollar, they have increased their domestic rebar prices by TRY 68-102/mt as compared to SteelOrbis’ report published on December 31.
Market sources state that buyers are maintaining their wait-and-see stance since Turkey’s economy is still observed to be fragile.
As of today, January 3, 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) |
||
|
31.12.2018 |
31.12.2018 |
||||||
|
Marmara |
8 mm |
2,458 |
448 |
↑ |
68 |
↓ |
4 |
|
Marmara |
12 mm |
2,441 |
445 |
↑ |
68 |
↓ |
4 |
|
Iskenderun |
8 mm |
2,475 |
451 |
↑ |
102 |
↓ |
2 |
|
Iskenderun |
10 mm |
2,462 |
448 |
↑ |
102 |
↓ |
2 |
|
Iskenderun |
12 mm |
2,449 |
446 |
↑ |
102 |
↓ |
2 |
|
Izmir |
8 mm |
2,483 |
452 |
↑ |
93 |
|
0 |
|
Izmir |
10 mm |
2,475 |
451 |
↑ |
94 |
↓ |
1 |
|
Izmir |
12 mm |
2,466 |
449 |
↑ |
93 |
|
0 |
|
Karabuk |
8 mm |
2,458 |
448 |
↑ |
68 |
↓ |
4 |
|
Karabuk |
12 mm |
2,441 |
445 |
↑ |
68 |
↓ |
4 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 5.49