Exchange rate influences local Turkish rebar market

Monday, 04 March 2019 17:14:22 (GMT+3)   |   Istanbul
       

Having started to move up last week, domestic rebar prices in Turkey have maintained their upward trend on the first day of the current week. Market sources state that Turkish mills’ rebar offers have increased due to the depreciation of the Turkish lira against the US dollar, while demand has remained at low levels.

Turkish producer Icdas has announced its domestic sales prices today, March 4, at TRY 2,669/mt ($495/mt) ex-works, while Izmir Demir Celik has revised its domestic sales prices today to TRY 2,650/mt ($492/mt) ex-works, both excluding 18 percent VAT.

As compared to SteelOrbis’ report published on February 28, domestic rebar prices in Turkey have increased by TRY 51-85/mt. As of today, March 4, 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)

28.02.2019

28.02.2019

Marmara

8 mm

2,686

498

59

5

Marmara

12 mm

2,669

495

59

5

Iskenderun

8 mm

2,720

505

84

11

Iskenderun

10 mm

2,708

502

85

10

Iskenderun

12 mm

2,695

500

85

10

Izmir

8 mm

2,669

495

59

5

Izmir

10 mm

2,661

494

59

6

Izmir

12 mm

2,653

492

60

5

Karabuk

8 mm

2,661

494

51

4

Karabuk

12 mm

2,644

491

51

4


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

$1 = TRY 5.39

 


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