Local Turkish merchant bar prices have increased by TRY 82.5-110/mt over the past week, supported by higher import scrap prices and billet offers. Market sources indicate that buyers' inventory levels are low-to-medium for the time being. Although some trading activity has been heard in Turkey’s Izmir and Denizli regions, buyers are mostly adopting a wait-and-see stance, trying to evaluate whether the most recent increase in prices will be sustainable.
SteelOrbis has been informed that demand in Turkey’s Karabuk region has been sluggish, while the trade in the Iskenderun region has been rather lively. Domestic angle prices in Turkey are currently at TRY 2,700-2,890/mt ex-works, excluding 18 percent VAT. Market sources state that merchant bar producers are offering discounts of TRY 20-40/mt for serious buyers in most of the regions, trying to stimulate their sales.
As of today, December 3, Turkish mill Kardemir sold close to 90,000 mt billet, mostly to re-rollers in Turkey, at $405-410/mt ex-works, depending on the steel grade. Buyers are expected to pass the increase to their semi-finished and finished steel offers for December and early January production.
Equal Angle Prices:
|
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
|
Denizli Region (30-100 mm) |
2,880-2,890 |
501-503 |
+82.5 |
|
Karabuk Region (30-100mm) |
2,760-2,800 |
480-487 |
+110 |
|
Iskenderun Region (30-100 mm) |
2,700-2,710 |
470-471 |
+100 |
|
Izmir Region (30-100 mm) |
2,840-2,850 |
494-496 |
+82.5 |
Flat Bar Prices:
|
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
|
Denizli Region (30-100 mm) |
2,910-2,920 |
506-508 |
+82.5 |
|
Karabuk Region (30-100mm) |
2,790-2,830 |
485-492 |
+110 |
|
Iskenderun Region (30-100 mm) |
2,730-2,740 |
475-476 |
+100 |
|
Izmir Region (30-100 mm) |
2,870-2,880 |
499-501 |
+82.5 |
NPI-NPU Prices:
|
Region |
Prices (TRY/mt) |
Prices ($/mt) |
Price change (TRY/mt) |
|
Denizli Region (30-100 mm) |
2,880-2,890 |
501-503 |
+82.5 |
|
Karabuk Region (30-100 mm) |
2,760-2,800 |
480-487 |
+110 |
|
Iskenderun Region (30-100 mm) |
2,700-2,710 |
470-471 |
+100 |
|
Izmir Region (30-50 mm) |
2,840-2,850 |
494-496 |
+82.5 |
The above prices exclude 18 percent VAT, are on ex-works basis and for cash payment. Price changes in the tables above are calculated as compared to Monday, November 25.
$1 = TRY 5.75