The local Turkish rebar market has started the current week with a decline in prices. Turkish producer Icdas has announced that its 12-32 mm rebar prices in Turkey's Marmara region are now at TRY 1,140/mt ($511/mt) + VAT ex-works, while its rebar prices in Biga, Canakkale in northwestern Turkey are at TRY 1,131/mt ($507/mt) + VAT ex-works. The mill's list prices have moved down by TRY 85/mt ($38/mt) as compared to its previous price list issued on October 27. After the producer's announcement, traders in the local Turkish rebar market have revised their prices downwards.
Due to weak demand, traders in the local Turkish market are only concluding purchases in line with the orders they receive. Meanwhile, Turkish producers' rebar offers stand in the range of TRY 1,110-1,139/mt ($497-511/mt) ex-works, excluding VAT.
As of today, November 17, traders' rebar offers in the Turkish domestic market are as follows:
Region | Dimension | Price (TRY/mt) | Price ($/mt) | Price changes (TRY/mt) 13.11.2014 |
Marmara | 8 mm | 1,340 | 509 | -60 |
Marmara | 12 mm | 1,320 | 502 | -60 |
Iskenderun | 8 mm | 1,335 | 507 | -65 |
Iskenderun | 10 mm | 1,320 | 502 | -65 |
Iskenderun | 12 mm | 1,310 | 498 | -65 |
Izmir | 8 mm | 1,340 | 509 | -60 |
Izmir | 10 mm | 1,330 | 505 | -60 |
Izmir | 12 mm | 1,320 | 502 | -60 |
Karabuk | 8 mm | 1,360 | 517 | -55 |
Karabuk | 12 mm | 1,340 | 509 | -55 |
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 2.23