As expected, downtrend in the Turkish rebar market has continued in the last days of the week. Although some transactions have been concluded in certain regions, where traders were facing difficulties in making new sales, traders' profit margins have been contracting gradually in line with the reduction in their inventory levels.
On the other hand, it is still yet to be seen the upcoming price trends of domestic rebar mills. However, early predictions are suggesting a further slight price cut. In the meantime, it is also thought that even if it's a little chance, mills may try to push up their rebar prices, taking advantage of traders' diminishing stock levels. Nevertheless, such a move would not gain acceptance in the market and the prices will likely move toward to the level of TRY 1,017/mt ($568/mt), excluding VAT.
According to information collected by SteelOrbis from market sources as of September 21 rebar prices in the Turkish domestic steel market are as follows:
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price change (TRY/mt) 18.09.2012 |
Marmara |
8 mm |
1,270 |
601 |
-15 |
Marmara |
12 mm |
1,250 |
592 |
-15 |
Iskenderun |
8 mm |
1,270 |
601 |
-15 |
Iskenderun |
10 mm |
1,260 |
597 |
-15 |
Iskenderun |
12 mm |
1,250 |
592 |
-15 |
Izmir |
8 mm |
1,280 |
606 |
-5 |
Izmir |
10 mm |
1,265 |
599 |
-5 |
Izmir |
12mm |
1,255 |
594 |
-5 |
Karabuk |
8 mm |
1,270 |
601 |
-30 |
Karabuk |
12 mm |
1,250 |
592 |
-30 |
All prices are ex-warehouse and on actual weight basis. The TRY prices include 18 percent VAT, while the US$ prices exclude VAT.
$1 = TRY 1.79