Exchange rate continues to push up domestic rebar prices in Turkey

Monday, 06 August 2018 17:04:17 (GMT+3)   |   Istanbul
       

Having been at low levels for a long time now due to the volatility of the Turkish lira-US dollar exchange rate, demand in the local Turkish rebar market is still very slow against the backdrop of the record depreciation of the Turkish lira against the US dollar today, August 6. Under the current economic circumstances, despite their low inventories buyers prefer to wait and see before concluding new purchases amid the prevailing uncertainty in the market. Domestic rebar prices in Turkey have increased by TRY 33-60/mt as compared to price levels in SteelOrbis’ report published on August 2.

As of today, August 6, 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)

02.08.2018

02.08.2018

Marmara

8 mm

2,847

551

33

6

Marmara

12 mm

2,831

547

34

7

Iskenderun

8 mm

2,864

554

59

1

Iskenderun

10 mm

2,852

552

60

1

Iskenderun

12 mm

2,839

549

59

1

Izmir

8 mm

2,839

549

34

6

Izmir

10 mm

2,831

547

34

7

Izmir

12 mm

2,822

546

34

6

Karabuk

8 mm

2,856

552

34

7

Karabuk

12 mm

2,839

549

34

6

 

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

$1 = TRY 5.17


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