Domestic rebar prices in Turkey move up further

Trading activity in the local Turkish rebar market has recovered following the US decision to decrease the duty on import steel from Turkey to 25 percent, which has led to expectations of an acceleration in Turkey’s rebar exports which will eventually cause a rise in domestic rebar prices in Turkey. On the other hand, SteelOrbis has been informed that some traders are still concluding bookings only in line with their needs as they consider the current price levels to be on the high side for restocking.

Today, Turkish mill Icdas has increased its 12-32 mm rebar prices by TRY 60/mt to TRY 2,940/mt ($485/mt) ex-works, while Izmir Demir Celik has raised its 12-32 mm rebar prices by TRY 42/mt to TRY 2,924/mt ($483/mt) ex-works, both excluding VAT.

As of today, May 20, rebar offers in the Turkish spot market are as follows:

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

$1 = TRY 6.06