It is observed that buyers in the local Turkish rebar market are avoiding restocking amid the ongoing high volatility of the Turkish lira-US dollar exchange rate, despite their low inventory levels, and are instead maintaining a wait-and-see stance. While domestic rebar prices in turkey have followed a fluctuating trend in parallel with the exchange rate during the current week, demand has failed to reach lively levels. As compared to SteelOrbis’ report published on November 5, domestic rebar prices in Turkey have fallen by TRY 8-50/mt, though they have indicated diverse trends on dollar basis due to the fluctuation of the exchange rate.
Additionally, Turkish steel producer Kardemir has revised its domestic rebar sales as per its new price list dated today, November 8, having opened its sales on November 2. Accordingly, Kardemir has opened its domestic sales for rebar at the level of TRY 2.775 TRY/mt ($509/mt) ex-works, excluding VAT. SteelOrbis has been informed that the mill has reportedly received orders for approximately 2,500 mt of rebar since early today.
As of today, November 8, traders’ rebar offers in the Turkish domestic market are as follows:
|
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) |
Price changes ($/mt) |
||
|
05.11.2018 |
05.11.2018 |
||||||
|
Marmara |
8 mm |
2,814 |
520 |
↓ |
50 |
↓ |
5 |
|
Marmara |
12 mm |
2,797 |
517 |
↓ |
50 |
↓ |
5 |
|
Iskenderun |
8 mm |
2,788 |
515 |
↓ |
34 |
↓ |
2 |
|
Iskenderun |
10 mm |
2,775 |
513 |
↓ |
34 |
↓ |
2 |
|
Iskenderun |
12 mm |
2,763 |
511 |
↓ |
34 |
↓ |
1 |
|
Izmir |
8 mm |
2,814 |
520 |
↓ |
8 |
↑ |
3 |
|
Izmir |
10 mm |
2,805 |
518 |
↓ |
9 |
↑ |
3 |
|
Izmir |
12 mm |
2,797 |
517 |
↓ |
8 |
↑ |
3 |
|
Karabuk |
8 mm |
2,788 |
515 |
↓ |
26 |
|
0 |
|
Karabuk |
12 mm |
2,771 |
512 |
↓ |
26 |
|
0 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 5.41