Higher production costs push up domestic rebar prices in Turkey

Thursday, 07 February 2019 15:47:24 (GMT+3)   |   Istanbul
       

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)


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