Demand in the local Turkish rebar market is still observed to be at low levels. Despite the decreases recorded in scrap quotations, domestic rebar prices in Turkey have mostly started to move up today, April 11, amid the fluctuations in the Turkish lira-US dollar exchange rate. Currently, domestic rebar prices in Turkey are in the range of TRY 2,763-2,831/mt ($481-493/mt) ex-warehouse. Market sources state that the exchange rate which constantly changes due to the uncertainties about the results of the local election held in Turkey on March 31, has indicated a weakening of the Turkish lira today. As a result, the local Turkish rebar market has mostly moved up, except for prices in Turkey’s Karabuk region where domestic rebar quotations have moved down as the weakness of demand has outweighed the depreciation of the Turkish lira.
Additionally, Turkish mill Izmir Demir Celik has announced its 12-32 mm rebar prices today at TRY 2,856/mt ($496/mt) ex-works, excluding VAT.
As of today, April 11, rebar offers in the Turkish spot market are as follows:
|
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) |
Price changes ($/mt) |
||
|
10.04.2019 |
10.04.2019 |
||||||
|
Marmara |
8 mm |
2,831 |
493 |
↑ |
34 |
↑ |
1 |
|
Marmara |
12 mm |
2,814 |
490 |
↑ |
34 |
↑ |
1 |
|
Iskenderun |
8 mm |
2,788 |
486 |
↑ |
17 |
↓ |
2 |
|
Iskenderun |
10 mm |
2,775 |
484 |
↑ |
17 |
↓ |
2 |
|
Iskenderun |
12 mm |
2,763 |
481 |
↑ |
17 |
↓ |
2 |
|
Izmir |
8 mm |
2,814 |
490 |
↑ |
17 |
↓ |
2 |
|
Izmir |
10 mm |
2,805 |
489 |
↑ |
17 |
↓ |
2 |
|
Izmir |
12 mm |
2,797 |
487 |
↑ |
17 |
↓ |
2 |
|
Karabuk |
8 mm |
2,780 |
484 |
↓ |
8 |
↓ |
7 |
|
Karabuk |
12 mm |
2,763 |
481 |
↓ |
8 |
↓ |
7 |
All prices are ex-warehouse and on actual weight basis and exclude 18 percent VAT.
$1 = TRY 5.74