Local Turkish rebar market declines further

Monday, 20 March 2017 16:55:38 (GMT+3)   |   Istanbul
       

Domestic producers in the local Turkish rebar market revised their domestic prices today, March 20, reducing them by TRY 70-80/mt amid the weakness of demand and due to the appreciation of the Turkish lira against the US dollar.
 
It is observed that traders in the local Turkish rebar market have also reduced their domestic rebar quotations, decreasing them by TRY 30-50/mt compared to price levels recorded on March 16 due to the same reasons as well as the revision in producers' rebar quotations. Meanwhile, buyers have postponed their domestic rebar purchases with the expectation of a further decline in prices against the backdrop of the lower import scrap quotation recorded in most recent deals. As a result, demand which was already at low levels has declined further over the past week.
 
As of today, March 20, 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)

16.03.2017

16.03.2017

Marmara

8 mm

1,653

455

↓ 

42

↓ 

11

Marmara

12 mm

1,636

451

↓ 

42

↓ 

10

Iskenderun

8 mm

1,627

448

↓ 

42

↓ 

11

Iskenderun

10 mm

1,619

446

↓ 

42

↓ 

10

Iskenderun

12 mm

1,610

444

↓ 

43

↓ 

10

Izmir

8 mm

1,644

453

↓ 

25

↓ 

6

Izmir

10 mm

1,636

451

↓ 

25

↓ 

5

Izmir

12 mm

1,627

448

↓ 

26

↓ 

6

Karabuk

8 mm

1,636

451

↓ 

25

↓ 

5

Karabuk

12 mm

1,619

446

↓ 

25

↓ 

6


 
All prices are ex-warehouse and on actual weight basis and exclude VAT.
 
$1 = TRY 3.63

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