According to market sources, prices in the Turkish domestic rebar spot market have continued their downward trend. Traders have revised their offers downwards with the exchange rate of the Turkish lira declining to 2.07 against the US dollar today, May 8, while prices have weakened amid low demand. Market sources state that competition between traders has increased in the different regions in Turkey, with aggressive downward price adjustments being witnessed.
While the sales of Turkish steel producer Kardemir still continue, the producer has revised prices in its domestic rebar sales, which were opened on April 18 at the price level of TRY 1,259/mt ($608/mt) ex-works, to TRY 1,238/mt ($598/mt) ex-works, both excluding VAT. Kardemir has attracted orders for a total of 24,000 mt of rebar so far.
SteelOrbis has been informed that Turkish producer Icdas' 12-32 mm rebar prices in Turkey's Marmara region are at TRY 1,254/mt ($606/mt) ex-works, while its rebar prices in Biga, Canakkale in northwestern Turkey are at TRY 1,242/mt ($600/mt) ex-works, both excluding VAT. However, market sources report that the producer has been concluding transactions below the prices in question due to the weak demand in the market.
As of today, May 8, traders' rebar offers in the Turkish domestic market are as follows:
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) 05.05.2014 |
Marmara |
8 mm |
1,460 |
598 |
-10 |
Marmara |
12 mm |
1,440 |
590 |
-10 |
Iskenderun |
8 mm |
1,475 |
604 |
-20 |
Iskenderun |
10 mm |
1,460 |
598 |
-20 |
Iskenderun |
12 mm |
1,450 |
594 |
-20 |
Izmir |
8 mm |
1,450 |
594 |
-20 |
Izmir |
10 mm |
1,435 |
587 |
-20 |
Izmir |
12 mm |
1,425 |
583 |
-20 |
Karabuk |
8 mm |
1,475 |
604 |
-20 |
Karabuk |
12 mm |
1,455 |
596 |
-20 |
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 2,07