Local Turkish merchant bar prices follow diverse trends

Monday, 29 July 2019 17:43:17 (GMT+3)   |   Istanbul
       

Prices in the local Turkish merchant bar market have followed diverse trends during the past week, depending on their region. Meanwhile, demand in the market is heard to be quiet. Accordingly, angle prices of Turkish mills have increased by TRY 30/mt on the low end and decreased by TRY 60/mt on the upper end as compared to Monday, July 22, to TRY 2,830-3,020/mt ($504-537/mt) ex-works, excluding 18 percent VAT.

SteelOrbis has been informed that discounts on list prices for serious buyers are still available in the local Turkish merchant bar market. Additionally, most Turkish steelmakers have reduced their delay interest rates for local buyers.

After Central Bank of Turkey’s decision to decrease interest rates last week, merchant bar prices have been reduced in most of Turkey’s regions due to the appreciation of the Turkish lira against the US dollar. Meanwhile, domestic merchant bar prices in Iskenderun region have increased slightly since mills did not want their prices to be too low as compared to their domestic competitor. Lastly, mills in Turkey’s Karabuk region have concluded sales to their export markets, and so they preferred to keep their prices stable week on week.

Equal Angle Prices:   

Region

Prices (TRY/mt)

Prices ($/mt)

Price change (TRY/mt)

Denizli Region (30-100 mm)

2,990-3,020

532-537

↓30

Karabuk Region (30-100mm)

2,860-2,900

509-516

0

Iskenderun Region (30-100 mm)

2,830-2,840

504-505

↑30

Izmir Region (30-100 mm)

2,950-2,980

525-530

↓40

 

Flat Bar Prices: 

Region

Prices (TRY/mt)

Prices ($/mt)

Price change (TRY/mt)

Denizli Region (30-100 mm)

3,020-3,050

537-543

↓30

Karabuk Region (30-100mm)

2,890-2,930

514-521

0

Iskenderun Region (30-100 mm)

2,860-2,870

509-511

↑30

Izmir Region (30-100 mm)

2,980-3,010

530-536

↓40

 

NPI-NPU Prices: 

Region

Prices (TRY/mt)

Prices ($/mt)

Price change (TRY/mt)

Denizli Region (30-100 mm)

2,990-3,020

532-537

↓30

Karabuk Region (30-100 mm)

2,860-2,900

509-516

0

Iskenderun Region (30-100 mm)

2,830-2,840

504-505

↑30

Izmir Region (30-50 mm)

2,950-2,980

525-530

↓40

 

The above prices exclude 18 percent VAT and are on ex-works basis. 

$1 = TRY 5.62

 


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