Demand in the local Turkish rebar market has remained at lively levels in the current week. Due to higher import scrap and billet quotations, Turkish mills’ production costs have increased, leading them to raise their domestic rebar offers over the past five days.
Turkish steel producer Kardemir closed its domestic rebar sales on February 6 after selling about 34,750 mt in total. The mill had opened its rebar sales earlier on the same day at the level of TRY 2,574 TRY/mt ($494/mt) ex-works, excluding VAT.
On the other hand, SteelOrbis has been informed that Turkish producer Icdas has increased its rebar prices by TRY 60/mt since Monday (February 4) to TRY 2,670/mt ($506/mt) + VAT ex-works.
Traders have followed Turkish mills’ lead and have also increased their domestic rebar quotations. As a result, traders’ domestic rebar prices in Turkey have increased by TRY 76-170/mt since SteelOrbis’ report published on February 4.
As of today, February 7, traders’ rebar offers in the Turkish domestic market are as follows:
Region |
Dimension |
Price (TRY/mt) |
Price ($/mt) |
Price changes (TRY/mt) |
Price changes ($/mt) |
||
04.02.2019 |
04.02.2019 |
||||||
Marmara |
8 mm |
2,661 |
504 |
↑ |
76 |
↑ |
8 |
Marmara |
12 mm |
2,644 |
501 |
↑ |
76 |
↑ |
8 |
Iskenderun |
8 mm |
2,720 |
515 |
↑ |
110 |
↑ |
14 |
Iskenderun |
10 mm |
2,708 |
513 |
↑ |
111 |
↑ |
14 |
Iskenderun |
12 mm |
2,695 |
510 |
↑ |
110 |
↑ |
14 |
Izmir |
8 mm |
2,669 |
506 |
↑ |
110 |
↑ |
15 |
Izmir |
10 mm |
2,661 |
504 |
↑ |
110 |
↑ |
14 |
Izmir |
12 mm |
2,653 |
502 |
↑ |
111 |
↑ |
14 |
Karabuk |
8 mm |
2,712 |
514 |
↑ |
170 |
↑ |
26 |
Karabuk |
12 mm |
2,695 |
510 |
↑ |
170 |
↑ |
25 |
All prices are ex-warehouse and on actual weight basis and exclude VAT.
$1 = TRY 5.28
$1 = TRY 5.21 (Feb. 6)