According to market sources, rebar prices in the local Turkish market have been revised upwards as of today, November 7, due to the strengthening of the US dollar against the Turkish lira. Consequently, traders have accelerated their purchases as they are concerned that prices on Turkish lira basis will rise further. Meanwhile, Turkish steel producer Kardemir has closed its domestic rebar sales as of today, after selling about 43,250 mt of rebar in total. The mill had opened its sales on November 5 at the level of TRY 1,161/mt ($511/mt) ex-works, excluding VAT.
As of today, November 7, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 4.11.2014 |
Marmara | 8 mm | 1,400 | 523 | +10 |
Marmara | 12 mm | 1,380 | 515 | +10 |
Iskenderun | 8 mm | 1,400 | 523 | +5 |
Iskenderun | 10 mm | 1,385 | 517 | +5 |
Iskenderun | 12 mm | 1,375 | 513 | +5 |
Izmir | 8 mm | 1,400 | 523 | +5 |
Izmir | 10 mm | 1,390 | 519 | +5 |
Izmir | 12 mm | 1,380 | 515 | +5 |
Karabuk | 8 mm | 1,415 | 528 | +5 |
Karabuk | 12 mm | 1,395 | 521 | +5 |
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 2.27