Traders in the local Turkish rebar market have continued to reduce their offers gradually due to weak end-user demand. Meanwhile, local steelmakers have also revised their domestic offers downward. Accordingly, this week Icdas announced a cut of $35/mt in its local rebar prices, while another domestic steelmaker Kardemir has received demand for only 2,000 mt of rebar in total in its local sales which it opened on October 14.
As of today, October 16, traders' rebar offers in the Turkish domestic market are as follows:
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) 9.10.2014 |
Marmara |
8 mm |
1,485 |
552 |
-35 |
Marmara |
12 mm |
1,465 |
545 |
-35 |
Iskenderun |
8 mm |
1,475 |
548 |
-45 |
Iskenderun |
10 mm |
1,460 |
543 |
-45 |
Iskenderun |
12 mm |
1,450 |
539 |
-45 |
Izmir |
8 mm |
1,480 |
550 |
-35 |
Izmir |
10 mm |
1,470 |
546 |
-35 |
Izmir |
12 mm |
1,460 |
543 |
-35 |
Karabuk |
8 mm |
1,495 |
556 |
-25 |
Karabuk |
12 mm |
1,475 |
548 |
-25 |
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 2.28